Bitcoin mining firm Hive to buy Intel's new chip

Bitcoin mining firm Hive has announced plans to buy Intel's new ASIC chip The deal, coupled with a production deal with an original design manufacturer (ODM), is expected to increase Hive's total bitcoin mining hash rate from 1.9 exhales per second to 95%. (EH / s), according to a statement from the company issued on Monday.

Hive, a publicly traded company based in Vancouver, Canada, also plans to host 100 MW of mining capacity at one of the facilities at the Texas Renewable Energy Data Center in Compute North. This will be their first expedition to the United States.

Last year, Hive ordered a total of 4,000 machines from China-based publicly listed bitcoin mining hardware maker Kanan. As The Block documents, since the Chinese crackdown on the multi-billion dollar industry in May 2021, North American companies have increased investment in bitcoin mining equipment, in a race to scale.