Bitcoin Mining Company Hive to Buy Intel Asic Chips in Expansion Plans

Cryptocurrency mining firm HIVE has signed a deal to purchase ASIC chips from Intel for new custom mining equipment.

The firm projects that the new mining devices, which are expected in the second half of 2022, will increase BTC mining hash rate to 3.8 EH/s from the current 1.9 EH/s.

The publicly traded firm has organized the new devices to be made by a third-party manufacturer by adding Intel chips into air-cooled BTC miners.

Intel notes in its patent for the chips, dubbed Bonanza Mine, that it will reduce mining operations power consumption by 15%. The decrease in power usage is expected to enable the firm to support more devices.

The President and COO of Hive, Aydin Kilic, underscores the importance of the new devices in the hash rate contribution to the bitcoin network. Kilic says that the firm is committed to implementing green energy infrastructure in the mining processes.

Source: Cointelegraph

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