Hive to Increase Hashrate Almost 50% With 3,000 New Miners

Hive predicts the purchase will generate an additional $80,000 in daily income.

By Jamie Crawley

Jul 12, 2021 at 9:44 a.m. UTC

Updated Sep 14, 2021 at 1:23 p.m. UTC

Mining, Bitcoin miners, fans (Michal Bednarek/Shutterstock) — Bitcoin mining machines

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Cryptocurrency mining company Hive Blockchain has purchased 3,019 bitcoin miners, which it says will increase its operating hashrate by 46%.

The MicroBt WhatsMiner M30S machines have a combined hashrate of 264 PH/s, according to an announcement Monday.
Hive predicts the purchase will generate an additional $80,000 in daily income.
The miners were bought from Foundry Digital, a subsidiary of CoinDesk parent company Digital Currency Group, for an undisclosed amount of cash and 1.5 million warrants giving the right to acquire one common share for C$3.11 (US$2.49) for a period of two years.
As part of the deal, Hive is joining the Foundry USA Pool, which also includes Hut 8, Blockcap and Bitfarms.
Hive recently made a $66 million purchase of graphics processing units (GPUs), taking advantage of the recent drop in price due to the mining crackdown in China.
The Canada-based firm began trading on Nasdaq at the start of this month in addition to its existing listing on the Toronto Stock Exchange.

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