Thursday, June 20, 2024

Addition of new Intel ASIC chips, HIVE Blockchain will be able to extend mining activities.

HIVE blockchain is a bitcoin mining operation and is a publicly traded entity. It is expanding its operations in Texas and using custom mining devices that are “greener” than those currently in use. HIVE just signed a big deal to get ASIC chips which are faster from Intel – one of the best-known manufacturer of semiconductors and chips. The new equipment will be powered by Intel’s bonanza mine chips.

HIVE made arrangements to have new devices custom built by a third-party manufacturer. Intel’s chips will be integrated into the BTC mining devices which will be air-cooled. According to a company spokesman, HIVE expects the new devices to offer a doubling in hash rates in BTC aggregates. The devices are expected to start arriving and be ready for use sometime after July 1st, 2022.

While applying for a patent for these chips called the Bonanza Mine, Intel stated that these chips will work with reduced power consumption. This reduction will amount to 15%. This reduction in energy use will help HIVE use more devices and have a higher hash rate.

HIVE’s COO Aydin Kilic said that these new devices are key to the future growth of his company, the hash rate and network contributions as well. He also said that the company is committed and will implement next-gen accelerators so that the infrastructure is robust and green.

Many other states in the US and countries across the globe are seriously thinking of banning mining of BTC and other crypto to preserve the environment. Country leaders are also worried about the strain on power grids because of the amount of energy needed for mining. HIVE is planning to use renewable energy at its new facility. This facility is owned Compute North, a firm which in the digital infrastructure arena.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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