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- Crypto miners globally have continued to add more mining rigs to win the hash race
- Hive Blockchain has recently purchased 3,019 mining rigs to boost its mining capacity
- The firm estimates that the latest addition will increase its hashes by 46%, which will help add more than $80k worth of daily profits
- The crypto miners have been purchased from Foundry Digital LLC
- The mining firm will now contribute its Bitcoin mining hashes to Foundry USA Pool
Crypto miners are making incredible gains since the last crypto bull market. With such gains, mining firms are purchasing more mining rigs to win the hash rate. Recently, Hive Blockchain announced that the firm had bought more than 3,019 BTC miners. With the latest acquisitions, the firm estimates an increment of 46% in its mining speed. Ultimately, with the addition of mining rigs, the firm’s revenue will also surge significantly. Moreover, the mining firm will join the Foundry USA Pool, which also includes Hut 8, Blockcap and Bitfarms.
Hive making next-generation miner expansion
Hive Blockchain has announced that the firm is purchasing to add 3,019 MicroBT WhatsMiner M30S dedicated crypto mining computers. The new machines will have an aggregate hash power of 264 Petahash per second. Moreover, the integration of these crypto miners will be immediate upon closing.
Notably, in the current scenario, Hive Blockchain has an operating hash rate of 566 PH/s. However, with the latest integration, it is estimated that the total hashrate will surge to 830 PH/s.
Furthermore, the miner will generate an additional $80k worth of profits on a daily basis.
Hive will enter the North American crypto miners pool
The latest purchases have already been located onsite at HIVE’s facilities in Lachute, Quebec, and Grand Falls, New Brunswick. According to the announcement, the crypto miners have been purchased from Foundry Digital LLC.
As part of the partnership, Hive Blockchain will contribute its BTC hash power to Foundry USA Pool. According to Frank Holmes, executive chair of the cryptocurrency mining firm, the team is excited to be executing on a transaction that dramatically increases its mining capacity.
Hive sees the scenario as an opportunity
Amid the global COVID-19 pandemic, an impact on logistics and new BTC miners manufactured in Asia has been observed. Hence, the recent purchases of the third one made by the mining firm.
Recently, the firm had purchased $66 million worth of Graphics Processing Units (GPUs). It is known that such acquisitions are being made following the recent drop in the price of the mining rigs. Indeed, such plunges have been caused due to China’s crackdown on the crypto industry.
