Key takeaways:
- Hive Blockchain will acquire Intel’s next-generation mining hardware and expand its operation in the US with a 100-megawatt facility in Texas
- Hive will receive the first shipment of Intel’s ASICs in the second half of 2022
- Once fully integrated, Intel’s specialized chips will increase HIVE’s aggregate mining hashrate by up to 95%
Hive Blockchain is buying Intel’s mining equipment, expanding its operation in the US
A Vancouver-based Bitcoin mining company, Hive Blockchain, has announced it will be acquiring Intel’s recently unveiled cryptocurrency mining hardware and expanding beyond Canadian borders with a rented Texas-based mining facility.
Intel unveiled the first generation of its mining chips at this year’s International Solid-State Circuits Conference (ISSCC). Aptly nicknamed “Bonanza Mine,” new chips pack 75 ASICs (application-specific integrated circuits) that can deliver up to 40 terahash/second (TH/s) with a power consumption of 3,600 watts. Intel’s new offering features a dedicated “ultra-low” voltage mode, which allows the circuit to run at its maximum power while not surpassing the 75° Celsius mark.
According to Monday’s press release, Hive Blockchain will receive Intel’s miners over the course of one year, with the first shipment coming in the second half of 2022. Once successfully integrated into Hive’s mining system, the company’s Bitcoin mining hashrate is expected to increase by up to 95% from 1.9 exahashes per second (EH/s).
Hive’s President and COO Aydin Kilic commented on the company’s mining expansion:
“After months of careful planning, we are very excited to take this step forward with a global technology leader like Intel. HIVE is committed to implementing these next-generation blockchain accelerators in its green energy infrastructure.”
In addition to acquiring Intel’s mining equipment, Hive has also entered a deal to rent renewable energy data center facilities from Compute North. The deal will see Hive expand its mining operation in the United States with 100 megawatts of mining capacity.
Generally speaking, the mining infrastructure and hashrate capabilities of companies based in the North American region increased drastically in the 10 months since Beijing cracked down on its mining operations. According to data from CBECI, the US commanded a 35% share of the global hashrate as of August 2021, ahead of Kazakhstan’s 18% and Russia’s 11%.
