Canadian crypto miner HIVE Blockchain said on Monday it had signed a deal with chipmaker Intel to buy the company’s new ASIC chips for use in building mining equipment.HIVE said the deal was part of its plan to expand into the United States.
The company also announced a preliminary deal with mining infrastructure provider Compute North to host 100 megawatts of mining capacity at a renewable energy facility in Texas.
Intel deal to nearly double HIVE’s BTC mining rate
HIVE said the new equipment will be delivered starting from the second half of 2022, and when installed, will boost its Bitcoin mining hash rate by up to a whopping 95%.The miner said it had also tied up with an original design manufacturer to build custom equipment incorporating Intel’s chips.
Hive currently mines Bitcoin, Ethereum and Ethereum Classic.Its combined liquid BTC and ETH holdings had a gross value of about $168 million, as of December 31 .
Intel had marked its first foray into blockchain technology when it unveiled the new chips last month.The chipmaker claimed that the new silicon chips would perform over 1000 times better than existing hardware used in mining.
Intel also said that Argo Blockchain, and Jack Dorsey’s BLOCK Inc would be the first to receive the new chips later this year.ASIC, or application-specific integrated circuit, are a type of chips built with very specific applications in mind, in this case being crypto mining.
Hive expands into the United States
HIVE’s deal with Compute North marks its first move into the United States, the company said.
The operation will be powered entirely by renewable energy, given recent concerns over crypto mining’s carbon footprint.
Last year, the company had gained a U.S.stock listing on the Nasdaq exchange.
Its primary listing is in Canada, on the Toronto exchange.The firm currently has data centers in Canada, Sweden and Greenland.
– [Breaking: HIVE Blockchain Enters Deal For Intel’s New Mining Chips In US]
– [Gold Takes Center Stage As Bitcoin (BTC) Fails to Decouple With Equity]
– [Here’s Why Fantom (FTM) Tanked 20% and Its DeFi TVL Also Corrected 21%]
– [Breaking: Louisiana Proposes Bill Allowing Crypto Donation To Political Campaigns]
– [Solana (SOL) Becoming A Target For Phishing Attacks; Here’s Why]
– [Why Terra-Based Anchor Protocol ($ANC) Price Is Rising Amid Crypto Crash?]
– [Breaking: U.S.State Virginia Will Allow Banks To Offer Crypto Custody Services]
– [Just-In: Crypto Hub Singapore Slams Russia With Sanctions]
– [Bitcoin Price Slumps Post Release Of U.S.Jobs Data, Is $35k Next?]
– [Analysts Predict Bitcoin (BTC) Still Poised For A Bounce Back Despite Price Drop]
– [Cardano Price Prediction: ADA Faces 17.6% Downside Risk If Bulls Lose $0.82 Support Level]
– [LUNA Price Prediction: LUNA Price Heading To $78 Support; Is It Good Time To Buy?]
– [Ethereum Price Analysis: Do Or Die Moment For ETH Bulls As Price Nears Apex Of Symmetrical Triangle Pattern]
– [Bitcoin Price Prediction: BTC Slips Below $40000 Mark; Is $36000 A Good Buy Target?]
– [SHIB Price Prediction: Shiba Inu (SHIB) Could Test 50-Day EMA AT $0.000026, Is It Time To Buy?]
– [MATIC Price Analysis: Bullish RSI Divergence Hints Upside; Is $2 Next for Polygon?]
– [ADA Price Prediction: Cardano (ADA) Prepares To Jumps Toward $1.0 Near Double Bottom]
– [Luna Price Prediction: Terra (LUNA) To Revisit $97.0 As Bulls Regain Control; Is Time To Buy?]
– [SHIB Price Analysis: Descending Trendline Breakout Is Must To Revert Ongoing Downfall]
– [MANA Price Prediction: Support Confluence Hints 25% Upside For Decentraland (MANA)].
