HIVE Blockchain Technologies Ltd. has made a monumental step by smashing through its updated 2021 ASIC capacity goal of 2,000 Petahash per second (PH/s) with the purchase of 10,500 next generation miners with an aggregate operating hash power of 711 PH/s, taking their total future capacity to 2,474 PH/s or 2.474 Exahash per second (EH/s).
New Bitcoin MinersThe addition of these 10,500 next generation miners, increases HIVE’s aggregate operating hash rate from Bitcoin mining to an estimated 2.474 EH/s or 2,474 PH/s by the end of 2021.This new equipment, sourced through their growing network, is coming from 2 different sources to reduce our dependency on one supplier, and reduce supplier delivery risk. The first supplier is providing 9,000 next generation miners with an aggregate hash rate of 666 PH/s. This equipment is expected to be delivered in 5 tranches, with 1,000 miners in June, and 2,000 miners in each of the months of September, October, November and December 2021.
The second supplier is providing 1,500 next generation miners with an aggregate hash rate of 45 PH/s. This new equipment is expected to be received and in operation in the next 30 days delivered in a single tranche in March 2021.According to Hive, ” This is part of our continuing strategy to increase our bitcoin mining capacity. HIVE intends to continue utilizing cash flow to make opportunistic investments in ASIC and GPU next generation mining equipment that can provide positive gross mining margins.”
Their current self mining operations on the cloud are comprised of 315 PH/s of ASIC operations mining Bitcoin which are expected to increase each and every month through 2021 to our current capacity of 2,474 PH/s, in addition to 2,725 Gigahash per second (GH/s) of GPU operations mining Ethereum, which we will increase as we complete our memory card upgrades and previously announced expansion plans in Sweden.