• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Hive Blockchain Increases Mining Activities Using Intel ASIC Chips
Nexo

Hive Blockchain Increases Mining Activities Using Intel ASIC Chips

Anthoniyan B by Anthoniyan B
2 months ago
in Blockchain
0

Notwithstanding the issues and turbulence in the crypto sector, operators are still enthusiastic and forward-thinking about it. Even though it seemed that mining activities would see a decline given the China crackdown last year, recent developments tell a different story.

One of the reasons for frowning at mining activities was too much power consumption. So now, operators are looking for ways to carry out greener mining that will be environmentally friendly and profitable.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

One of such moves to promote greener mining is in the form of a new intel “ASIC” chips. HIVE Blockchain Technology is the company kicking off this greener mining with the chips. They have already signed a contract to purchase these ASIC chips from Intel Bonanza Mine Chips.

Related Reading | Launch Of Crypto Donation Site A Big Boost For Ukraine’s Military Fighting The Russian Invaders

According to our sources, HIVE will use the chips in their mining devices which a third-party manufacturer customized. We also learned that the chips would be added to the devices mining BTC.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Hive Plans The Expand With New Devices

According to HIVE, adding the new devices embedded with the chips will increase their hash rate to 3.8 Eh/s. Presently, the mining company is at 1.9 but is optimistic about experiencing a change soon, starting from the middle of this year when the devices will begin operating.

One of the good things about using the Intel Chips is that they are energy efficient. According to the company, its Bonanza Mine Chips will reduce power consumption by 15%, a plus for the company.

As a result, HIVE is expected to add more mining devices since they won’t be consuming much power. Moreover, such moves will mean that their hash rate will go beyond the targeted 3.8.

Related Reading | Canada Has Frozen And Seized Bitcoin Donations To “Freedom Convoy”

With such efficiency and contribution, the company will experience growth, says HIVE President and Chief of Operations, Aydin Kilic. Also, the ASIC chips handle complex mathematical equations in BTC mining according to the customizations made by the company. So, efficiency is unquestionable.

Bitcoin Mining Issues

Other countries plan to do the same, apart from China’s pressing hard on mining operators. Recall that many mining companies exited China for the USA than when the issue was hot. Now, even New York wants to stop mining operations due to the effect on the power supply and the environment.

Now that HIVE wants to change its way of mining Texas by using the renewable energy method, we believe that such issues will not affect them. The mining company has established operations in several states and mining several cryptocurrencies.

Hive Blockchain Increases Mining Activities Using Intel ASIC Chips
Crypto market stands above $1.7 trillion | Source: Crypto Total Market Cap on TradingView.com

For instance, they’re operating in Iceland, Canada, and Sweden. Also, they mine cryptos which include Ethereum Classic (ETC), Ethereum (ETH), and Bitcoin (BTC).

Featured image from Pexels, chart from TradingView.com
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Anthoniyan B

Anthoniyan B

Anthoniyan began writing cryptocurrency news several years ago. She continues to share her passion for cryptocurrencies through her work.

Related Posts

Riot Blockchain

Riot Blockchain’s Texas Expansion Could Use Power To Light 200,000 Homes

2 days ago
Bitcoin

Bitcoin No Longer Rat Poison? Warren Buffett-Backed Nubank Unveils Crypto Trading

3 days ago
Metaverse

Metaverse Casino Ordered By Five State Regulators To Shut Down Immediately

5 days ago
Bitcoin

As Bitcoin Mining Difficulty Hits 5% ATH, Majority Of Miners Shift To Ethereum

6 days ago
Dfinity

Dfinity Slaps Meta With A Lawsuit For ‘Copying’ Its Infinity Logo

2 weeks ago
Hawaii

Aloha Crypto! Hawaii Approves Task Force To Regulate Bitcoin And Web3 Technology

2 weeks ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.