Crypto Mining Firm HIVE to Adopt New Intel ASIC Chips

With Bitcoin miles away from reaching its total circulating supply, mining has stayed a popular activity amongst people with sustainable energy resources.

Based on the official report by HIVE Blockchain, the mining firm will be obtaining ASIC chips for its custom-built crypto mining rigs. Not only that, HIVE has made a partnership deal with Minneapolis-based computing service provider Compute North which will provide the mining firm with cost-effective data centers, running on renewable energy.

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Likewise, HIVE has made a "manufacturing agreement" with Intel so that it can implement "blockchain accelerators into an air-cooled Bitcoin mining system” into HIVE’s mining systems. This is expected to increase the hash rate up to 95%, and make the rigs run at approximately 3.8 Eh/s.

The President and COO of the HIVE Blockchain Aydin Kilic spoke on the agreement with Intel, stating: 

"Intel’s energy-efficient and high performance blockchain accelerator is expected to reduce our power consumption over current ASIC miners on the market."

More than that, HIVE will be using Compute North’s data centers to deploy a mining system with a capacity of 100 megawatts. With the latest initiative, the CCO of Computer North Kyle Wenzel hopes to "evolve the data center market to create an efficient platform for computing needs."

Earlier last month, at the 2022 International Solid-state Circuits Conference, Intel announced its Bonanza Mine ASIC, with several largest players in the blockchain industry like Jack Dorsey looking to get their hands on the new chips.