Canadian crypto miner HIVE Blockchain stated on Monday it had signed a cope with chipmaker Intel to purchase the corporate’s new ASIC chips to be used in constructing mining tools. HIVE stated the deal was a part of its plan to broaden into america.
The corporate additionally announced a preliminary cope with mining infrastructure supplier Compute North to host 100 megawatts of mining capability at a renewable vitality facility in Texas.
Intel deal to almost double HIVE’s BTC mining fee
HIVE stated the brand new tools can be delivered ranging from the second half of 2022, and when put in, will increase its Bitcoin mining hash fee by as much as a whopping 95%. The miner stated it had additionally tied up with an authentic design producer to construct customized tools incorporating Intel’s chips.
Hive at present mines Bitcoin, Ethereum and Ethereum Traditional. Its mixed liquid BTC and ETH holdings had a gross worth of about $168 million, as of December 31.
Intel had marked its first foray into blockchain expertise when it unveiled the brand new chips final month. The chipmaker claimed that the brand new silicon chips would carry out over 1000 instances higher than current {hardware} utilized in mining.
Intel additionally stated that Argo Blockchain, and Jack Dorsey’s BLOCK Inc can be the primary to obtain the brand new chips later this yr. ASIC, or application-specific built-in circuit, are a kind of chips constructed with very particular functions in thoughts, on this case being crypto mining.
Hive expands into america
HIVE’s cope with Compute North marks its first transfer into america, the corporate stated. The operation can be powered completely by renewable vitality, given latest considerations over crypto mining’s carbon footprint.
Final yr, the corporate had gained a U.S. inventory itemizing on the Nasdaq alternate. Its major itemizing is in Canada, on the Toronto alternate. The agency at present has knowledge facilities in Canada, Sweden and Greenland.
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