Crypto Mining Firm HIVE Blockchain Purchases New ASIC Chips To Expand Into Texas

The cryptocurrency mining firm HIVE Blockchain Technology is always looking for an improvement, that’s why it has made an agreement with Intel (A Semiconductor Maker) for purchasing ASIC chips. The firm will use these chips in its new custom mining equipment. The firm gave the contract of new devices to the third-party custom designer.

These newly prepared devices will be helpful to accommodate the chips into fresh air-cooled BTC mining equipment. HIVE is working on improving the hash rate of BTC mining and hoping that the newly prepared devices will double the rate from 1.9-3.8 Eh/s. These devices will be available ready for being used in the second part of 2022.

While telling the features of chips, Intel wrote in a patent named “Bonanza Mine” that chips will help save nearly 15% electricity consumption during mining operations. The HIVE Blockchain Technology may use many devices by saving electricity which can be helpful to raise hash rate contribution.

HIVE’s president Aydin Kilic said that the new devices will play important role to the firm’s future development and contribution of hash rate to the network. Adding more, he showed determination that they are planning to implement these kinds of next-generation blockchain accelerators into green energy framework.

HIVE’s Executive Chairman Frank Holmes made a statement that they have good working relations and harmony with Intel. Moreover, he said that Intel’s commitment against status quo and working on energy saving commodities are lined up with their commitment of clean energy and ESG.

Presently, many countries including New York State are planning to impose a ban on BTC mining, reason behind this ban is the environment’s protection and the supply of power. HIVE can be guarded against such objections about its fresh location in Texas by utilizing the facility powered by sustainable energy, provided by digital framework company compute north.

Presently, HIVE has been mining Bitcoin, ETH, ETC in different countries like Sweden, Canada, and Iceland. While Texas operation is HIVE’s first mining operation in the United States of America. ASIC chips are built for special use. When it comes to Bitcoin mining, these chips are designed to carry out difficult equations of mathematics to make fresh blocks on the chain.

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