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- 6400 Bitcoin (BTC) mining machines have been purchased by the cryptocurrency mining company, HIVE Blockchain (Hive) based in Canada
- The total hash power of the company will potentially rise to approximately 1,229 PH/s by December 2021
- The delivery of these mining machines will take place throughout the year, with eight different batches which will be ready for shipping
Hive Blockchain, a crypto-mining company, based in Canada, has bought 6400 machines oriented towards Bitcoin (BTC) mining.
Hive To Set New Goals For Mining Machines’ PH
Hive Blockchain is a Canadian cryptocurrency mining company that recently purchased 6400 units of Canaan AvalonMiner 1246 machines. These are next-generation Bitcoin (BTC) miners with a combined operating hash power of 576 PH/s (peta-hash per second). Hash rate refers to the overall proportion of the Bitcoin network’s processing power. Higher hash rates indicate that the BTC network is more robust and more secure. Now that Hive has purchased these new machines, its total working hash rate from Bitcoin mining will increment to an expected 1.229 Exahash every second (EH/s) or 1,229 PH/s before the beginning of 2022.
Throughout 2021, the shipment of orders placed will be shipped in eight lots, with 500 machines delivered in May and June and 900 miners delivered every month spanning the rest of the 2021 schedule starting with the July conveyance.
The orders directly align with the assertive advances that HIVE has taken towards its vision to accomplish a total working hash force of 1,000 PH/s before the year ends. By securing these orders, the crypto mining company has accomplished its objective quicker than expected. The company is looking at new ways to improve its potential to mine Bitcoin. Also, the HIVE is aiming to hit 2,000 PH/s by the end of 2021.
Expansion Of Mining Machines
In the previous year, Hive purchased 3,500 mining machines. In 2021, the company has successfully surpassed that number. With the price of Bitcoin witnessing positive growth in the market, orders for BTC mining machines have seen a monumental increase. In December 2020, Marathon Patent, a U.S.-based cryptocurrency mining company listed on NASDAQ (National Association of Securities Dealers Automated Quotations), signed an agreement with Bitmain to buy 70,000 “Antminer S-19” units. With the expansion of new purchases, the organization says it will get 10.36 Exa Hash (EH/s) mining power every second with a sum of 103,000 machines. Uproar Blockchain and Core Scientific have likewise declared purchase-arrangements which will take place on a large-scale.
Foundry, an auxiliary of Digital Currency Group (DCG), a prominent funding firm for investments in digital assets and blockchain, has declared that it will collaborate with US mining firm Compute North to find mining solutions for North American organizations.
Foundry intends to arrange 14,000 MicroBT mining machines and offer them to institutional speculators aside from specific in-house holdings.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
