Cryptocurrency mining company Hive Blockchain Said We started deploying 5800 this week Intel Blockscale AcceleratorThe uniquely designed BuzzMiner mining system. To date, this is a large-scale deployment of Intel-powered mining machines. The company also revealed that he earned $3.15 million in December by using less electricity and mining fewer bitcoins. CoinDesk.
Hive constantly optimizes hardware to improve efficiency and reduce power consumption. Late last year, the company placed an order for production of 5800 of his Hive BuzzMiners. This is a uniquely designed cryptocurrency mining machine based on Intel’s Blockscale custom ASIC. So far, the company has received and installed 1,423 of these machines and has shipped 987 systems to Sweden, where they plan to install them by January 15th. The remaining systems will be tested and shipped by the end of this month. Additionally, Hive plans to replace the old ASIC- and GPU-powered mining hardware with its own BuzzMiner machine. Meanwhile, Hive appears to be the biggest buyer of Intel’s Blockscale chips.
The company also recently procured 3570 Bitmain S19j Pro miners, of which 2050 are already installed.
Hive mined 213.8 Bitcoins in December using ASIC and GPU hardware. This equates to 113.2 Bitcoins per Exahash. Meanwhile, a cryptocurrency mining company earned him $3.15 million from energy price hedging and grid balancing strategies. This essentially means you didn’t mine when the energy demand was high. Instead, it sold electricity to the power grid.
An interesting fact is that Hive production was down about 20% month-over-month in December. Meanwhile, the company’s grid balancing strategy and selling electricity to the grid more than offset the decline in cryptocurrency mining.
Cryptocurrency mining has become significantly less profitable in recent quarters as demand for bitcoin has declined and cryptocurrency mining has become more difficult. This is why Hive and its rivals need to improve efficiency to stay in business.
“Our tech team has updated the software stack that monitors key stats for our global fleet of ASIC miners.” Said Aydin Kilic, President and COO of Hive, said: “This gives us great insight and granularity into the performance of each machine using bespoke API calls. Make sure you are mining to ensure maximum profitability in the coin bear market.We will continue to pursue excellence and also optimize our uptime as we scale our hashrate to achieve the ideal We ensure Bitcoin production volume and lead the industry in performance.”
