Announcing a Popular Company: We’ve Sold These Altcoin Assets!

Announcing a Popular Company: We’ve Sold These Altcoin Assets!

Crypto mining company Hive Blockchain (HIVE) has sold altcoins to hit Intel bitcoin mining rigs. The coins the company sold consisted of ETH, Ethereum’s native cryptocurrency. However, many crypto miners also take the same route to pay for their operational expenses. Accordingly, miners have recently started selling some of their crypto assets.

Hive Sells Altcoins for Mining Products

British Columbia-based miner Vancouver said in a statement, “Intel has significantly increased our ETH assets to leverage our strategic relationship and to finance the construction of new bitcoin miners, we reduced it,” he said. Hive, on the other hand, said it decided it was “prudent to take some profits in ETH due to the high volatility.” Accordingly, Vancouver will continue to sell altcoins to fund the company’s long-term Bitcoin goals. It will from time to time. However, Hive continues to expand its ether mining capacity. Therefore, he said that he will try to replace the ETH he was selling in the near future. Hive continues to grow in mining begin and mass production in the fall. However, what sets the company apart is that it is the first mining company to receive bitcoin-specific mining chips, which are more efficient than most of Intel’s competitors. Hive said it issued more cryptocurrencies in May than in April. Accordingly, the company mined 2% more Bitcoin. It has also improved altcoin mining. According to the data, the company increased the amount of Ethereum mined by 6%.

On a combined basis, Hive produced 459.2 bitcoin equivalents in May, similar to last month’s exit of 458.3. The company’s current power capacity is 3.4 EH/s. However, it plans to reach a hashrate of 6.2 exahash per second (EH/s) over the next 12 months. Shares of Hive fell about 2.8% on Monday, while Bitcoin’s price is up nearly 5% over the past 24 hours.

Hive bought Intel Mining Chip That Can Allow Hashrate 95%

as As we reports, Hive Blockchain (HIVE) is buying a chip that can increase the crypto miner’s total bitcoin mining hashrate from 1.9 exahash per second (EH/s) to 95%. Accordingly, in an agreement reached in March, the company agreed to buy the new chips from Intel. The system is expected to ship within 12 months from the second half of 2022. Intel announced details of the first generation of the new mining chip at its conference in February. Aydın Kılıç, President and Operations Director of Hive, said in a statement:

“Intel’s new mining chip has taken its place as energy-efficient and high-performance. We expect it to reduce our power consumption compared to existing ASIC miners on the market.”

Leave a Comment