Hive Blockchain deploys the Intel-powered HIVE BuzzMiner ASIC
The share price of Bitcoin (BTC) mining company Hive Blockchain Technologies (HIVE) has risen tremendously since the beginning of this year. The miner also spoke about the deployment of new mining instruments that sought to take advantage of harnessed computing power.
The HIVE share price was $1.53 on January 3rd, rising to $3.13 on January 13th. This shows a huge increase of more than 104% in just ten days. However, the share price continued to rally and is currently trading at $4.55 with over 9% and 56% gains in one day and the last week.
The mining company announced on Friday the deployment of an Intel Blockscale ASIC-powered mining rig called the HIVE BuzzMiner. The company launched the rig after many months of planning and engineering development following QA processes in the factory, field testing and collaboration from a global level.
In terms of performance, the company’s press release noted that HIVE Buzzminer is on par with expectations. Canada and Sweden-based data centers will have the deployment of over 1,500 mining rigs, and the company has the potential and “option to manufacture” more of these machines.
Chairman Frank Holmes said the public mining company is the first to deploy its own application-specific integrated circuit (ASIC) mining rig. The newly deployed rig is the company’s attestation against proof of work as the appropriate consensus mechanism when it comes to security.
HIVE’s President & COO, Aydin Kilic, asserted that the business was able to maximize HIVE BuzzMiner’s capabilities to fulfill demand response programs and take part in grid balancing operations.
The dynamic operating range of the HIVE BuzzMiner, according to Kilic, allows the company to operate the machines at speeds from 110 TH/s to 130 TH/s, allowing it to adjust power consumption and machine efficiency to maximize fleet profitability. He stated that the first build of 5,800 HIVE BuzzMiners has a production rate of 638 to 754 PH/s.
Argo Blockchain, BLOCK, formerly known as Square, and GRIID Infrastructure were some of the company’s first customers. Meanwhile, last February, Intel announced its intention to support the development of blockchain technologies with a roadmap of energy-efficient accelerators.
The new Custom Compute Group, established by Intel, is responsible for creating “custom silicon platforms optimized for clients’ workloads, including blockchain and other custom accelerated supercomputing potential at the edge.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while graduating. A keen observer of detail, he shares his passion for writing alongside being a developer. His backend knowledge of blockchain helps him bring a unique perspective to his writing
