Green Energy-Based BTC Miner Hive Joins North American Mining Pool

Green energy-based BTC miner Hive joined the North American Mining Pool association to take advantage of the East-to-West shift in BTC mining power after regulators in China cracked down on the industry so let’s read more in our latest Bitcoin news.

After the approval for a Nasdaq listing, Canadian Hive Blockchain Technologies bought more than 3000 BTC mining rigs to get involved in the mining shift from East to West. Purchased from the Digital Currency Group subsidiary Foundry Digital LLC, the MicroBTC miners acquired as part of the deal are located at the Hive facility in Lachute, Quebec, and Grand Falls as well as New Brunswick. Foundry will be issued cash and 1.5 million warrants of Hive as per the announcement.

Hive’s new hash power will join the Foundry USA pool including Blockap, Hut 8, Bitfarms, and Foundry as participants. Noting the huge migration of mining power from China to the US and Canada, Hive executive chairman Frank Holmes explained that the firm’s entry into the North American Mining pool further the goal of the company to increase transparency and accountability with the partners. Foundry CEO Mike Coyler added:

“We are excited to have Hive as a partner for the Foundry USA Pool as we continue playing our part in securing the global bitcoin mining network.”

The announcement said that the addition of new miners will add an aggregate hash power of 264 petahash per second and will increase the overall BTC operating hash rate by 46% to 830 PH/s. Based on the current difficulty and BTC price, the newly enhanced mining setup will generate $80,000 in daily income for the company. Hive is known for its green energy-based mining efforts and the company has green energy-powered data center facilities in Sweden, Canada, and Iceland. It also sold its Norwegian operations due to legislative challenges.

As recently reported, While the SEC continues to slow-roll the Bitcoin ETF listing, the traders on legacy exchanges are quite eager to get some more exposure to crypto that will soon have another outlet. In an announcement on Friday, Canada’s Hive Blockchain technologies miner revealed that it received approval to list the shares on the Nasdaq stock exchange while Hive already trades on the TSX Venture Exchange under the ticker HIVE. V and focuses on both BTC and ETH mining.

Source: https://www.dcforecasts.com/bitcoin-news/green-energy-based-btc-miner-hive-joins-north-american-mining-pool/