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HIVE Blockchain Orders 1,800 Crypto Mining Machines from Bitmain

Photograph: FM

HIVE Blockchain Applied sciences introduced at this time that the corporate has ordered 1,800 Antminer S19j Professional miners from Bitmain Applied sciences, one of many largest crypto mining know-how suppliers on this planet.

In accordance with the latest announcement, the newly ordered crypto mining machines have an combination hash energy of 180 Petahash per second (PH/s). HIVE Blockchain talked about that the corporate is planning to extend its crypto mining capability with the addition of Bitmain’s 1,800 Antminer S19j Professional miners.

Earlier this yr, HIVE launched its monetary outcomes for the second quarter and noticed a serious bounce in revenues. Because the begin of 2021, the corporate has elevated its crypto mining capability considerably to fulfill the rising demand.

Commenting on the latest announcement, Frank Holmes, Govt Chairman of HIVE, stated: “We’re continuously upgrading our ASIC fleet to have essentially the most environment friendly miners we will purchase from money move. This buy with Bitmain allows us to keep up our technique to diversify the producers we buy from. Over the previous yr, now we have been expressing our issues about world shortages in chips and logistics delays in delivery tools from Asia as a result of Covid 19. Now we have deep relationships with Bitmain, MicroBT, and Canaan that are all prime world producers in our trade.”

Crypto Mining Trade

Because of the latest crackdown on crypto miners in China, the worldwide crypto mining trade goes by way of a serious shift. Chinese language miners are shifting to different places together with Canada, Europe, and the US. Regardless of the newest shift, a number of crypto miners together with HIVE are holding digital currencies in massive quantities.

“Presently now we have 25,000 ETH in chilly wallets and 875 BTC. We’re persevering with to HODL all our bitcoins which were mined with inexperienced vitality. Our present stock of cash invested in BTC and ETH is valued at $100 million. As talked about in our earlier press launch, our annual run fee at at this time’s bitcoin costs and problem is roughly $220 million. Our subsequent milestone is to hit 1 Exahash in BTC mining by the top of this month,” HIVE talked about.

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