Mining
Hive Blockchain (HIVE) revealed a plan to roughly double its computing energy, or hashrate, to six exahash/second (EH/s), in a press launch on Friday.
The miner will fund its progress goal via an at-the-market (ATM) sale however didn’t specify a timeline for the goal. Hive stated it should improve its hashrate from about 3 EH/s to 4 EH/s by the top of the second quarter with machines it has already bought.
Hive didn’t reply to CoinDesk’s request for added particulars on the timeline.
Because the crypto winter that noticed many miners battle, with some filling for chapter, thaws, the trade is setting its eyes on new progress and operational targets.
The miner will promote as much as $100 million frequent shares below its ATM providing, with Canadian funding companies Canaccord Genuity and Stifel performing as brokers. Every exahash of bitcoin (BTC) mining computing energy will price $30 million, so the providing might fund as much as 3 EH/s of progress.
The Canadian miner additionally stated it has bought 1.26 EH/s of recent technology machines. That features 0.71 EH/s of Bitmain Antminer fashions whereas the remaining is made up of Hive’s customized rigs made with Intel (INTC) semiconductors. Intel discontinued the mining chip collection in April.
The agency emphasised the facility effectivity and buy worth of its mining rig fleet that can hopefully “optimize near-term compensation of our investments from cashflow working these machines,” stated the press launch.
Hive mines each bitcoin and different crypto tokens utilizing graphics-processing items that it repurposed from ether (ETH) mining after the Merge. As of the top of April, its hashrate was made up of three.14 EH/s of bitcoin computing energy and 0.16 EH/s of GPU mining.
Learn extra: Ex-Ethereum Miners Token Hop to Keep Alive After the Merge
