HIVE Blockchain Announces Signing Agreement with Intel and Host Mining Operation in Texas

Time Stamp: March 7, 2022 5:37 AM
Source Node: 1202843

HIVE Blockchain Announces Signing Agreement with Intel and Host Mining Operation in Texas

On March 7, 2022, the cryptocurrency mining firm HIVE Blockchain Technologies Ltd made two major announcements. Headquartered in Vancouver, Canada, and founded in 1987, the company’s objective is to validate transactions on a blockchain network, provide crypto mining, and bridge the gap between crypto and traditional financial markets.  HIVE Joins Hands with Intel On Monday, HIVE signed a deal with Intel Corporation to purchase the new ASIC chips used in creating mining equipment. According to HIVE, the signed agreement was a part of the deal to expand into the United States.  HIVE stated that the mining equipment will mostly be received during the second half of this year. When implemented, the Bitcoin mining hash rate will increase to 95 percent. Presently, HIVE Blockchain mines Bitcoin (BTC), Ethereum (ETH), and Ethereum Classic. The combination of liquid BTC and ETH result in a gross value of about $168 Million.  With this very announcement, Intel Corporation marked its debut in the world of blockchain technology by unveiling its high-performance chip. Intel also claimed that these chips will perform 1000x better than the existing ones.  HIVE Expands Into United States The Canadian crypto miner, HIVE is pleased to announce their partnership with another crypto mining firm, Compute North. Compute North delivers sustainable, cost-effective computing. The Executive Chairman of HIVE, Frank Holmes praised Compute North for their ‘exemplary’ job of putting forth the United States on the global stage as a ‘reliable and scalable energy market for miners.’ Furthermore, he continued, “Their team shares the same commitment to using renewable energy that HIVE has adhered to since its listing as the world’s first publicly traded crypto-miner.” With rising concerns of crypto mining’s carbon footprint, the operation is set to be powered completely by renewable energy. Plans of deploying 100 MW by HIVE at one of Compute North’s renewable energy campuses have been under discussion in Texas, United States. 

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