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HIVE Blockchain Buys Intel’s Bitcoin Mining Chips

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Mon, 03/07/2022 - 09:36
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Alex Dovbnya
Intel’s accelerator chip is already in high demand, with Vancouver-based Hive Blockchain signing a supply agreement with the tech giant
HIVE Blockchain Buys Intel’s Bitcoin Mining Chips
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Crypto mining company Hive Blockchain announced Monday that it had inked a supply agreement with Santa Clara, California-based tech giant Intel to buy its bleeding-edge Bitcoin mining chips.

COO Aydin Kilic says that he expects the company to reduce its power consumption with Intel’s “energy-efficiency” ASIC chips:

Intel's energy-efficient and high-performance blockchain accelerator is expected to reduce our power consumption over current ASIC miners on the market

On top of that, the Vancouver-based miner also partnered with Compute North in order to host a 100-megawatt mining facility in Texas. 

Related
Bitcoin Mining Ban Proposed by Top EU Financial Regulator

As reported by U.Today, Intel made a foray into the Bitcoin mining industry earlier this year, aiming to challenge the dominance of Chinese companies in the sector.

In late February, it finally unveiled the “Bonanza Mine'' (BMZ1) chip along with a mining rig. 

Apart from Hive Blockchain, Intel’s powerful accelerator chip has also been ordered by other prominent names within the industry, such as Block and Argo Blockchain.

Intel is also reportedly working on a second-generation model of BMZ1.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.