HIVE Blockchain Buys Intel’s Bitcoin Mining Chips

Blockchain

Intel’s accelerator chip is already in high demand, with Vancouver-based Hive Blockchain signing a supply agreement with the tech giant

Crypto Mining Company Hive Blockchain announced on Monday that it had signed a supply agreement with Santa Clara, Calif.-based tech giant Intel to purchase its state-of-the-art Bitcoin mining chips.

COO Aydin Kilic says that he expects the company to reduce its power consumption with Intel’s “energy-efficiency” ASIC chips:

Intel’s energy-efficient, high-performance blockchain accelerator is expected to reduce our power consumption compared to current ASIC miners on the market

On top of that, the Vancouver-based miner also partnered with Compute North in order to host a 100-megawatt mining facility in Texas.

As reported by U.TodayIntel made a foray into the bitcoin mining industry earlier this year, aiming to challenge the dominance of Chinese companies in the sector.

In late February, it finally unveiled the “Bonanza Mine” (BMZ1) chip along with a mining rig.

Apart from Hive Blockchain, Intel’s powerful accelerator chip has also been commissioned by other prominent names in the industry, such as Block and Argo Blockchain.

Intel is also reportedly working on a second-generation model of BMZ1.

admin

Read Previous

Veteran Trader Peter Brandt Shares Unusual Bitcoin Chart Pattern That Reflects Current Market Conditions

Read Next

Total Value Locked in Fantom Plummets by 21% Following Devs Quitting: Details

Leave a Reply

Your email address will not be published. Required fields are marked *

Right Menu Icon