Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets

Hive Blockchain (HIVE) agreed to buy Intel’s new mining chips in a deal the crypto miner said could increase its aggregate bitcoin mining hashrate by as much as 95% from 1.9 exahash per second (EH/s).

  • Hive said an original design manufacturer (ODM) will incorporate the Intel (INTC) chips into an air-cooled bitcoin mining system. The system is expected to be delivered over a period of 12 months starting in the second half of 2022.
  • “Intel’s energy-efficient and high performance blockchain accelerator is expected to reduce our power consumption over current ASIC (application-specific integrated circuit) miners on the market,” Hive President and Chief Operating Officer Aydin Kilic said in a statement.
  • Intel revealed the details of the first generation of its mining chip, which failed to match current rivals, at a semiconductor conference in February. However, it is the second generation that will be shipped to Hive as well as to peers Griid, Argo Blockchain and Block (formerly Square) later this year.
  • Last month, Griid said Intel’s second-generation mining machine, Bonanza Miner 2, will be the second most efficient on the market with a hashrate of 135 terahash/second (TH/s) at an electricity efficiency of 26 joules/terahash (J/TH).
  • Vancouver, British Columbia-based Hive also signed a deal with Compute North to deploy 100 megawatts of miners at a Texas facility that is run by renewable energy.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets

CoinDesk - Unknown

Aoyon Ashraf is managing editor with more than a decade of experience in covering equity markets