Hive Blockchain Technologies Ltd., a cryptocurrency mining company, has bought more than 3,000 new excavators. The MicroBT WhatsMiner 30S machines should boost the company’s overall BTC rates by nearly 50%.
In a press release, the company announced its latest purchase on July 12. Soon, the hardware will be available for use with a total hashing speed of 264 Petahash per sec.This should boost the company’s overall BTC hash rate by 46%.
The company predicts that new machines will generate $80,000 per day after the latest correction of difficulties. This was the largest negative correction in the history of bitcoin.
HIVE also announced that it will transfer its BTC computing resources to the Foundry USA Pool. Its main customers are Blockcap and Bitfarms.
We are pleased to be carrying out a transaction that dramatically increases our mining capabilities without any logistical delays. Our entry into the North American mining basin deepens our goal of increasing transparency and accountability with our partners.
– commented THE HIVE Executive President Frank Holmes.
Holmes also discussed recent developments in the mining sector. Holmes commented that the “exciting” move of mining power to the west was for his company.
He was specifically referring to China’s recent crackdown against miners. A few months ago, the country that was responsible for over 60% of BTC mining decided to banish all miners. This led to severe network disruptions.
In just a few weeks the hash rate dropped to more than 50%. This led to the necessary correction of the difficulties. Within days, the metric started to return to normal.
It has risen from just below 70 Ehash/s to just above 100 Ehash/s since July’s beginning. Numerous reports also confirmed Holmes’ assertion that the mining force was heading west.
Kazahstan and Canada are the most popular new destinations. The USA is also a top choice. Frances Suarez of Miami, the Mayor, outlined possible benefits for miners. Anyone who relocates their business to Florida can enjoy benefits.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.