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Hive Blockchain mining activity increases due to the use of Intel ASIC chips

Despite the challenges and instability in the cryptocurrency sector, operators remain enthusiastic and forward-thinking about it. One of the reasons for the disapproval of mining activity was excessive electricity use. As a result, operators are increasingly seeking methods to conduct greener mining that is both ecologically benign and lucrative.

New Intel “ASIC” processors are one example of a drive to support greener mining. HIVE Blockchain Technology is a startup that is pioneering greener mining using chips. It has already inked a deal with Intel Bonanza Mine Chips to acquire these ASIC chips.

According to our sources, HIVE will use chips designed by a third-party manufacturer in its mining machines. We also heard that the chips will be installed on the BTC mining machines.

According to HIVE, the addition of the additional devices incorporated with the chips will improve their hash rate to 3.8 Eh/s. The mining firm is now at 1.9 but is confident about seeing a shift shortly, beginning in the middle of this year when the devices begin running. 

One advantage of adopting Intel chips is that they are energy efficient. According to the business, their Bonanza Mine Chips would lower power usage by 15%, which is a bonus.

As a result, HIVE is projected to install more mining machines since they will use less electricity. Furthermore, such adjustments will cause their hash rate to exceed the goal of 3.8.

According to HIVE President and Chief of Operations, Aydin Kilic, the firm will develop as a result of such efficiency and contribution. Furthermore, according to the company’s specifications, the ASIC chips solve difficult mathematical problems in BTC mining. As a result, efficiency is indisputable.

Apart from China’s pressure on mining companies, other governments want to follow suit. Remember that when the matter was heated, several mining corporations fled to the United States. Because of the impact on the electricity supply and the environment, even New York wants to halt mining activities.

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Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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