Hive Blockchain Buys 6,400 Bitcoin Miners From Canaan, Capacity Reaches 1,229 PH / s – Bitcoin News Mining

Canadian bitcoin miner Hive Blockchain has purchased 6,400 next-generation mining machines from Canaan. Avalonminer 1246 miners will add 576 petahash per second (PH / s) to Hive’s existing hash power.

● With the addition of the new machines, Hive’s total hash rate will increase to an estimated 1,229 PH / s, well beyond the company’s original cumulative hash rate target of 1,000 PH / s for 2021.

● In a statement this week, Hive said the equipment will be delivered in eight tranches in 2021, with 500 miners delivered in May and June, and 900 miners delivered monthly until the end a year.

● Hive from Vancouver said the latest purchase, which is double the 3,500 miners purchased last year, “is part of our ongoing strategy to increase our bitcoin mining capability.” For the December quarter of 2020, the company mined 140 bitcoin and over 22,000 ethereum (ETH).

● According to the Canaan Web Store, the Avalonminer 1246 retails for $ 1,450 each. The miner is the most powerful range of the Chinese company available and comes with a hash rate of 90TH / s.

● Hive operates mining facilities running on renewable energy in Canada, Sweden and Iceland. Shares of Hive fell 15% to $ 2.42 Canadian dollars ($ 1.91) in Toronto trading on Thursday. Over the past 52 weeks, the stock has rocked to a high of CAD $ 3.50 and a low of CAD $ 0.12. So far, Hive is down more than 10%.

What do you think of Hive’s latest purchase of bitcoin miners? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons