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Crypto Minor Hive Blockchain announced a procurement deal with Intel for the purchase of new ASIC chips. These chips will be incorporated into the mining equipment that will be custom-built for the hive. The company has also entered into a manufacturing arrangement with an original design manufacturer (odm) that focuses on the manufacture of electronic devices.d
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According to the official announcement, the deal is part of its US expansion plans. Hive revealed that odm will integrate the Intel blockchain accelerators in an air-cooled bitcoin (btc) extraction system. On the basis of the agreement, hive's engineering team will work closely with intel and build on its expertise in hardware and software implementation as well as the odm partner on systems integration.
The delivery of minors should begin in the second half of 2022 and continue for more than a year. Hive also estimates an increase of 95% in its aggregate bitcoin mining hash rate of 1.9 exahash per second once the miners are installed.
Aydin Kilic, President and COO of Hive, acknowledged that the team was excited to take the step with the North American-based semiconductor manufacturer after months of careful planning and stated:
“HIVE is committed to implementing these next-generation blockchain accelerators in its green energy infrastructure. This intelligence agreement in combination with the ODM manufacturing agreement creates a chip production pathway for an Asian miner that differentiates us from our competitors."
The exec also went on to add,
“Hive’s vision is to be a technology leader in the crypto-mining space, pushing the envelope in research and development initiatives, paired with hash rate analytics, to optimize the efficiency of our operations and maximize return on invested capital.”
As part of their expansion agreement in the united states, hive blockchain also revealed the conclusion of a non-binding letter of intent (loi) with the minnesota-based compute north which deals with durable, large-scale computer infrastructure. The company intends to use a 100 MW deployment at one of the northern renewable energy calculation sites in Texas.
Hive's third-quarter earnings are skyrocketing.
The crypto miner said earlier that its 2021 third-quarter revenues witnessed an increase of almost 400% to a record $68.2 million as opposed to figures from the same quarter the previous year.
For the three-month period ending on december 31st, the hive's net income exceeded 64 million dollars, this represents a 7% increase over last quarter, and 273 per cent from the previous year. In the same period, hive exploited 697 bitcoin (btc) and over 7,126 ethereum (eth).
Beehive is known for bitcoin mine and other cryptocurrencies utilizing renewable energy sources. In an exclusive interview with CryptoPotato, Frank Holmes, its Executive Chairman, said “green” bitcoins will eventually become more valuable over time than those mined with coal (for example).
