Hive to Increase Hashrate Almost 50% With 3,000 New Miners

Cryptocurrency mining company Hive Blockchain has purchased 3,019 bitcoin miners, which it says will increase its operating hashrate by 46%.

  • The MicroBt WhatsMiner M30S machines have a combined hashrate of 264 PH/s, according to an announcement Monday.
  • Hive predicts the purchase will generate an additional $80,000 in daily income.
  • The miners were bought from Foundry Digital, a subsidiary of CoinDesk parent company Digital Currency Group, for an undisclosed amount of cash and 1.5 million warrants giving the right to acquire one common share for C$3.11 (US$2.49) for a period of two years.
  • As part of the deal, Hive is joining the Foundry USA Pool, which also includes Hut 8, Blockcap and Bitfarms.
  • Hive recently made a $66 million purchase of graphics processing units (GPUs), taking advantage of the recent drop in price due to the mining crackdown in China.
  • The Canada-based firm began trading on Nasdaq at the start of this month in addition to its existing listing on the Toronto Stock Exchange.
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