Hive blockchain has revealed proposals to enhance mining activities. The plans manifested after HIVE agreed on an arrangement to buy ASIC chips from a semiconductor manufacturer, Intel. The ASIC chips will integrate with unique mining gadgets to improve mining activities. The Application-Specific Integrated Circuit (ASIC) chips are specially design for a unique purpose. In regards to Bitcoin mining, the ASIC is design to carry out rigorous calculations to produce new blocks on the chain.
The deal will aid the production of fresh mining gadgets by a third-party special blueprint builder, Intel. It will ensure the integration of these chips into air-conditioned Bitcoin mining gadgets. Additionally, Hive is hopeful that the latest gadgets will improve the entirety of its hash rates. It’s expected that the latest gadgets will improve HIVE’s hash rate from 1.9 to 3.8 Exahashes per second.
Furthermore, the gadgets are expected to hit the market later this year. According to Intel, the Chips dubbed “Bonanza Chips” will ensure the reduction of electricity depletion by a staggering 15%. This slash in electricity depletion is likely to Support Hive to use more gadgets for more mining capacity. The organization is running Mining activities across the globe, most notably, Canada, Iceland, and Sweden. Plans to initiate operations in Texas will be the organization’s first operation in the U.S.
Comments about HIVE and Intel partnership
However, the President and Chief Operating Officer of HIVE, Aydin Kilic opined that the deal will bear positive results for the organization. He’s optimistic that the latest gadgets are vital to the further development of HIVE. He also addressed how the gadgets will be efficient towards increasing HIVE’s input towards global mining. Lastly, Kilic added that HIVE is firm towards integrating the gadgets into Hive clean energy system.
Additionally, The Executive Chairman of the group, Frank Holmes commended Intel in regards to its dedication towards innovation. He described Intel’s embracement of power-saving gadgets as a reflection of HIVE’s policy towards clean energy.
Possible result of the deal
Meanwhile, many countries around the globe are against Bitcoin Mining activities in their domain. They are accessing the possibility of banning Bitcoin Mining due to its heavy depletion of electricity. Before now, HIVE’s plan to commence mining activities in the US is under jeopardy due to the country’s concern for electricity usage. However, this development is likely to aid a soft landing for the company in the U.S, because it’ll reduce Mining electricity depletion.