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Hive to Buy Intel Mining Chip That Can Raise Hashrate by 95%

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.

Read more: Hive Blockchain Q3 Revenue Jumps Fivefold From Previous Year