HIVE Blockchain to broaden mining operations along with new Intel ASIC chips

March 8, 2022



The Bitcoin mining firm is broadening to Texas with new policy-built greener mining appliances that will be supported by Intel Bonanza Mine chips. HIVE is a publicly-traded crypto mining firm, Blockchain Technology has recently agreed and signed an agreement to purchase ASIC chips from semiconductor manufacturer Intel, which will be used in the new upcoming custom mining appliances. HIVE anticipates that the new devices will make twice as much its aggregate Bitcoin mining hash price from 1.9 to 3.8 Exahashes per second (Eh/s). They will start coming ready for use starting by the 2nd half of 2022.

Intel declared in its patent for the chips, named Bonanza Mine, that the chips would also curtail the energy consumption of mining operations by 15%. The decrease in power usage may allow HIVE to employ more pieces of equipment, helping it to boost its hash rate contribution. Aydin Kilic President and COO of HIVE indicated that the new appliances would be important in the coming development of the firm and its hash rate contributions to the system. Executive Chairman of HIVE, Frank Holmes further added that Intel’s commitment to challenging the status quo and commitment to power-efficient commodities aligns with ESG and clean power commitment.

Nowadays, New York state and several nations around the globe are contemplating prohibiting Bitcoin mining in the name of conservation of the atmosphere and the energy supply. HIVE has mining undertakings in Canada, Iceland, and Sweden where it mines Bitcoin, Ethereum, and Ethereum Classic (ETC). The Texas operation will be its first in the U.S. The application-specific integrated circuit, ASIC chips are customized for special use. In the case of Bitcoin mining, they are formulated to conduct complex mathematical equations to establish new blocks on the chain.


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