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Hive set to purchase an Intel mining chip capable of increasing hashrate by 95 percent

Hive Blockchain (HIVE) has agreed to purchase Intel’s latest mining processors, which the crypto miner claims would improve its aggregate bitcoin mining hashrate by up to 95% from 1.9 exahashes per second (EH/s).

According to Hive, an original design manufacturer (ODM) will incorporate Intel (INTC) processors into an air-cooled bitcoin mining machine. The system is planned to be supplied over a 12-month period beginning in the second half of 2022.

At a semiconductor conference in February, Intel presented the specifics of the first iteration of its mining chip, which fell short of the current competition. However, the second generation will be delivered to Hive, as well as peers Griid, Argo Blockchain, and Block (previously Square), later this year.

Griid said last month that Intel’s second-generation mining machine, the Bonanza Miner 2, would be the second most efficient on the market, with a hashrate of 135 terahash/second (TH/s) and an electrical efficiency of 26 joules/terahash (J/TH).

Based in Vancouver, British Columbia, Hive recently signed an agreement with Compute North to install 100 megawatts of miners at a renewable energy-powered facility in Texas.

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Jeewan Singh
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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