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HIVE BLOCKCHAIN SOLD 10,000 ETH FOR BUYING INTEL BITCOIN MINING RIGS

HIVE BLOCKCHAIN SOLD 10,000 ETH FOR BUYING INTEL BITCOIN MINING RIGS

Crypto miner Hive Blockchain (HIVE) has sold about 10,000 ether (ETH), a traditional Ethereum blockchain, to pay for Intel (INTC) bitcoin mines, as more miners start selling some of the goods their digital digs to pay. their operating costs.


"We have significantly reduced our ETH funding to support our Intel strategic partnership and the construction of new bitcoin miners," the Vancouver-based miner based in British Columbia said in a statement. of great flexibility. "


The miner will continue to sell ether from time to time to finance the long-term mining goals of the bitcoin company (BTC). However, Hive said he would look to replace the ether he sold in the near future as the company expands its ether mining capacity.


Hive is expected to test Intel's mining units this month, with prototype production expected by the end of the summer and mass production scheduled to launch this fall.


Hive is among the first miners to find Intel a second-generation miner, bitcoin-specific chips, which work much better than most competitors.


Hive said it dug 273.4 bitcoins in May, about 2% more than in April, and 2,694 ether, 6.2% more than in April. Collectively, it produced 459.2 bitcoin-equivalent in May, similar to the release of 458.3 last month.


The company also expects to have a bitcoin equivalent hashrate of 6.2 exahash per second (EH / s) in the next 12 months, from its current volume of 3.4 EH / s.


Hive shares fell nearly 2.8% on Monday, and the price of bitcoin rose about 5% in the last 24 hours.

Source: yahoo




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