Home
News
HIVE Blockchain Technologies has joined hands with Digital Currency Group to offer more than 3,000 bitcoin mining rigs. The Canadian bitcoin mining firm has purchased MicroBT WhatsMiner M30S, dedicated mining computers to help expand the next generation of miners.
HIVE Blockchain Technologies, the Canadian bitcoin mining firm has purchased more than 3000 bitcoin mining rigs from Digital Currency Group, a Subsidiary of Founder Digital LLC. The company has made an announcement today.
Bitcoin miner said that the purchase of MicroBT WhatsMiner M30S dedicated mining computers was helping the expansion of next-generation miners. The aggregate operating hash rate increases from 566PH/s to 830 PH/s.
The machine receives 264 Petahash (PH/s) cumulative hash power per second. The HIVE’s overall bitcoin operating hash rate surged by 46%. Given the current complexity and high prices, these purchased miners will generate more than $80,000 in revenue per day. Bitcoin is one such token that continues to give daily volatility of plus or minus 6%. Investors should be aware of this volatility, mentioned in the press release by HIVE.
As part of the transaction, the miners to be acquired are already located in HIVE facilities in Rushwood, Quebec and Great Falls, New Brunswick.
Deal with Digital LLC
According to the deal with Digital LLC, miners will be acquired from Foundry Digital and HIVE will join the Foundry USA mining pool that includes many North American Bitcoin miners like Blockcap, Hut 8, and Bitfarms. As part of the partnership, HIVE will contribute its Bitcoin Hash power to Foundry USA Pool.
Frank Holmes, CEO of, HIVE said that the transactions will dramatically increase the mining capacity without any logistics delays. The company’s entry into the North American mining pool helps to increase the transparency and accountability of HIVE partners. The mining power is transitioning from east to west.
Mike Coyler, CEO of Foundry said that HIVE has joined the brand for which the company is excited. The company will continue to play an important part in securing the global bitcoin mining network.
At the cost of the miners, the foundry receives cash and 1.5 million corporate guarantee must be approved by the regulatory authorities. Every full warrant will entitle the holder to acquire one common share for C$3.11 for two years.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
