HIVE Expands Bitcoin Mining Capacity with New Machines

HIVE Blockchain Technologies, a Canada-based cryptocurrency mining firm, today announced that it has increased its Bitcoin mining capacity with the purchase of 3,019 MicroBT M30S miners. The company also announced the immediate hashing of the new machines.

In an official announcement, HIVE mentioned that the new Bitcoin mining machines have an aggregate hash power of 264 Petahash per second (PH/s). The newly purchased MicroBT M30S miners will increase the company’s overall Bitcoin operating hash rate by nearly 46%.

HIVE aims to generate an additional $80,000 in daily income through the latest purchase based on the current difficulty level and the price of Bitcoin.

Commenting on the latest announcement, Frank Holmes, Executive Chairman of HIVE, said: “We are pleased to be executing on a transaction that dramatically increases our mining capacity without any logistics delays. Our entry into a North American mining pool furthers our goal of increased transparency and accountability with our partners. Mining power is shifting from east to West, and we’re excited to be involved.”

Suggested articles

Registrations Now Open For IFX EXPO International!Go to article >>

Since the start of 2020, the cryptocurrency mining firm has increased its mining capacity significantly.

Bitcoin Mining

Earlier this year, China announced a crackdown on Bitcoin and other crypto mining operations in the country. As a result, leading Chinese Bitcoin mining firms started shifting their operations to crypto-friendly locations around the world including Canada and the US. HIVE is planning to expand its mining operations in the future amid a surge in crypto mining activity across North America.

“The miners to be acquired in the transaction are already located onsite at HIVE’s facilities in Lachute, Quebec and Grand Falls, New Brunswick. The miners are being purchased from Foundry Digital LLC (“Foundry”), a wholly-owned subsidiary of the Digital Currency Group (DCG) focused on digital assets’ mining and staking. As part of the partnership, HIVE will contribute its Bitcoin hash power to Foundry USA Pool going forward, whose other major customers include Blockcap, Hut8, Bitfarms, and Foundry itself, among others,” the company added.

“We are excited to have HIVE as a partner for the Foundry USA Pool as we continue playing our part in securing the global bitcoin mining network,” Mike Colyer, CEO of Foundry, commented.

Leave a Reply

Your email address will not be published. Required fields are marked *

Share:

Share on telegram
Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

Related Posts

bitcoin
Bitcoin (BTC) $ 69,112.52
ethereum
Ethereum (ETH) $ 3,739.03
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 601.14
solana
Solana (SOL) $ 167.33
staked-ether
Lido Staked Ether (STETH) $ 3,737.54
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 0.540167
dogecoin
Dogecoin (DOGE) $ 0.169302
the-open-network
Toncoin (TON) $ 6.37
cardano
Cardano (ADA) $ 0.460405
avalanche-2
Avalanche (AVAX) $ 38.13
shiba-inu
Shiba Inu (SHIB) $ 0.000025
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 69,134.52
chainlink
Chainlink (LINK) $ 17.34
polkadot
Polkadot (DOT) $ 7.36
tron
TRON (TRX) $ 0.113524
bitcoin-cash
Bitcoin Cash (BCH) $ 491.70
near
NEAR Protocol (NEAR) $ 8.19
uniswap
Uniswap (UNI) $ 11.24
matic-network
Polygon (MATIC) $ 0.727480
litecoin
Litecoin (LTC) $ 84.73
pepe
Pepe (PEPE) $ 0.000015
fetch-ai
Fetch.ai (FET) $ 2.29
internet-computer
Internet Computer (ICP) $ 12.28
leo-token
LEO Token (LEO) $ 5.98
dai
Dai (DAI) $ 1.00
wrapped-eeth
Wrapped eETH (WEETH) $ 3,886.45
ethereum-classic
Ethereum Classic (ETC) $ 31.47
aptos
Aptos (APT) $ 9.04
render-token
Render (RNDR) $ 10.05
hedera-hashgraph
Hedera (HBAR) $ 0.108375
renzo-restaked-eth
Renzo Restaked ETH (EZETH) $ 3,668.03
immutable-x
Immutable (IMX) $ 2.46
kaspa
Kaspa (KAS) $ 0.139430
mantle
Mantle (MNT) $ 1.01
cosmos
Cosmos Hub (ATOM) $ 8.46
filecoin
Filecoin (FIL) $ 5.93
crypto-com-chain
Cronos (CRO) $ 0.120551
stellar
Stellar (XLM) $ 0.110594
arbitrum
Arbitrum (ARB) $ 1.18
first-digital-usd
First Digital USD (FDUSD) $ 0.999713
the-graph
The Graph (GRT) $ 0.325225
dogwifcoin
dogwifhat (WIF) $ 3.03
okb
OKB (OKB) $ 48.80
blockstack
Stacks (STX) $ 1.98
bittensor
Bittensor (TAO) $ 423.09
ethena-usde
Ethena USDe (USDE) $ 1.00
optimism
Optimism (OP) $ 2.54
arweave
Arweave (AR) $ 40.01