The company HIVE Blockchain, engaged in mining cryptocurrencies, announced an important transaction that will enable the company to purchase high-performance chips for mining ASIC. These chips will be implemented into mining equipment developed for the HIVE blockchain.
This transaction was made because of the trust in HIVE due to the partnership with Intel Corporation, which is an authority in the field of mining. Intel supports mining activities for many companies in this field.
According to the executive chairman of HIVE, Frank Holmes, signing a deal with Intel, the world’s largest semiconductor manufacturer, will be very important for the development and expansion of HIVE mining in the United States.
HIVE is also planning a collaboration with ODM (original design manufacturer). ODM will be able to implement blockchain accelerators obtained from Intel into the HIVE mining system for Bitcoin. Having gained experience in software and hardware development, the HIVE engineering team will be capable of various system integrations.
The installation of new mining systems is scheduled to begin in the second half of 2022. Additional implementations are planned to be completed within one year. According to HIVE forecasts, thanks to these innovations, the total hashrate of mining for Bitcoin will increase to 95% from 1.9 Exahash per second.
Aydin Kilic, president and CEO of HIVE, said that the company is very pleased with the new step in the field of mining and cooperation with such a leader as Intel. Preparation for many months has led the company to the desired results. HIVE’s introduction of new blockchain accelerators will help meet the required environmental standards.
HIVE also plans to sign an agreement with Compute North, which is an industry leader in energy-efficient and large-scale computing infrastructure. According to the CEO of Compute North, their activities in the USA are gradually gaining momentum. Technologies to accelerate the energy transition and improve the work of data centers will help in creating the most convenient platform that is necessary for mining.