HIVE Blockchain Pronounces Steady Enhance of Bitcoin Mining Energy Via Further Buy of Subsequent Era Miners for Inexperienced Vitality

HIVE Blockchain Applied sciences Ltd. (TSX.V: HIVE) (OTCQX: HVBTF) introduced on Monday it has ordered 200 Bitmain Antminer S17e 60 Terahash per second (TH/s) SHA 256 mining machines because it continues to scale as much as next-generation mining energy at its inexperienced energy-powered bitcoin mining operation in Quebec, Canada.

In keeping with HIVE, the price for the S17e machines was roughly US$950 per unit, or simply underneath US$0.2 million, financed by way of the Firm’s money. Supply and set up of the brand new mining gear are anticipated to happen in July. HIVE additionally noticed:

“Following set up, excluding additional purchases, HIVE estimates its combination working hash price particularly from subsequent era mining gear at its Quebec facility, might be roughly 131 Petahash per second (PH/s), using lower than 6 MW energy. This equates to roughly 22.6 PH per megawatt (MW) of energy, which HIVE believes is without doubt one of the most power environment friendly bitcoin mining operations in Canada.”

HIVE then famous whereas the COVID-19 pandemic has impacted logistics and the availability of recent bitcoin miners manufactured in Asia, Monday’s introduced buy is HIVE’s third buy of next-generation bitcoin mining gear over the previous two months, totaling roughly $2.35 million with the quantities paid by way of money readily available. HIVE added:

“As a part of its technique to maximise the capability and effectivity of its facility, HIVE intends to proceed using money stream to make opportunistic investments within the facility. These investments embrace putting in subsequent era mining gear that may present optimistic gross mining margins submit the Could 2020 halving of bitcoin rewards; the subsequent halving is scheduled to happen in 2024.”