Hive Blockchain Buys, Deploys 1,240 Bitcoin Mining Machines, Nearly Doubling Hash Power

Hive Blockchain ASIC purchases in 2020

Publicly traded mining firm Hive Blockchain purchased and without prolong deployed its supreme batch of present ASIC miners Friday, bringing 1,240 MicroBT WhatsMiner M30S machines on-line.

  • The company’s combination working hashrate nearly doubles with the addition of the contemporary M30S miners, according to an announcement, in what’s the supreme single buy of present machines for the Vancouver-primarily primarily based firm.
  • Hive’s present hash vitality has nearly doubled from 116 peta hash per second (PH/s) to 229 PH/s, on memoir of the contemporary machines. A total working hash vitality of 1,000 PH/s is the firm’s aim interior the following 12 months, according to Frank Holmes, interim govt chairman.
  • Amid the continuing coronavirus pandemic, transport and transport logistics for miner producers stays disrupted, affecting Hive and patrons. Hive is quiet ready on the stout transport of 200 S17e miners, which agree with been delayed by manufacturing components at ASIC-manufacturer Bitmain.
  • Hive’s expansion comes as bitcoin is buying and selling at a 3-year excessive of $15,500, up 116% this year.
  • The expected profitability of these contemporary machines, furthermore, is boosted by the loads of fall in mining challenge Tuesday despite essential raise in bitcoin’s mark, as CoinDesk previously reported.
  • Year up to now, shares of Hive, which had Q1 uncover earnings of $1.8 million, agree with received 488 percent, currently buying and selling at $0.53. 

Hive Blockchain ASIC purchases in 2020
Source: Hive Blockchain, CoinDesk Research

Leave a comment