Hive Blockchain Buys 6,400 Bitcoin Miners From Canaan, Capacity Reaches 1,229 PH/s – Mining Bitcoin News

Canadian bitcoin miner Hive Blockchain has bought 6,400 next-generation mining machines from Canaan. The Avalonminer 1246 miners will add a total of 576 petahash per second (PH / s) to Hive’s existing hash power.

With the addition of the new machines, Hive’s total hash rate increases to an estimated 1,229 PH / s, well beyond the company’s original target of 1,000 PH / s for the 2021 cumulative hash rate.

● In a statement this week, Hive said the equipment will ship in eight tranches in 2021, with 500 miners shipping in May and June and 900 miners each month through the end of the year.

● Vancouver-based Hive said the latest purchase, which is double the value of 3,500 miners bought last year, “is part of our ongoing strategy to increase our bitcoin mining capacity.” For the December 2020 quarter, the company has 140 Bitcoins and over 22,000 Ethereum (ETH) mined.

● The Avalonminer 1246 sells for $ 1,450 each, according to Canaan’s Web Store. The miner is the Chinese company’s most powerful range and has a hash rate of 90TH / s.

● Hive operates mining facilities in Canada, Sweden and Iceland that use renewable energy. Hive’s shares fell 15% to $ 2.42 Canadian dollars ($ 1.91) in Toronto on Thursday. Over the past 52 weeks, the stock has risen to a high of $ 3.50 and a low of $ 0.12. Since the start of the year, Hive is down more than 10%.

What do you think of Hive’s recent purchase from Bitcoin Miners? Let us know in the comments below.

Photo credit: Shutterstock, Pixabay, Wiki Commons

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