The First Intel-Powered Bitcoin Mining Machines by Hive

The First Intel-Powered Bitcoin Mining Machines Are Deployed by Hive Blockchain

The Canadian miner anticipates that each machine will provide 110 to 130 teraflops of processing power. The first machines built on Intel's (INTC) Blockscale chips have been deployed by bitcoin mining company Hive Blockchain (HIVE), the miner announced on Friday.

The new chips not only have the potential to end Bitmain and MicroBT's effective duopoly in the mining machine industry, but they also provide mining businesses the freedom to create computers according to their specifications, a significant deviation from the models made by those other manufacturers.

According to Aydin Kilic, president and chief operating officer of Hive, the company's first 5,800 machines, nicknamed BuzzMiners, will be delivered in late 2022 and can collectively output computational power between 638 petahash/second (PH/s) and 754 PH/s, or 110 terahash/second (TH/s) to 130 TH/s per machine. That is less advanced than some of Bitmain's most recent models, such the S19 Pro+ Hydro and Antminer S19 XP.

Nevertheless, Hive has not made available the machines' power efficiency statistics, which is an important indicator in a situation when power prices have driven miners to their knees. While it wouldn't outperform Bitmain's S19 XP series, Intel claimed in April that the chips' 26 joules/terahash (J/T) of efficiency was on par with or better than other versions presently available.

The miner reported that more than 1,500 of the Intel-powered computers have already been deployed at its facilities in Sweden and Canada, and they have achieved their performance goals. In 2022, Hive placed an initial purchase for 13,000 machines, which it later lowered "to methodically scale the business during the crypto bear market," as stated in the press announcement on Friday.

The uneasy Argo Blockchain (ARBK), Jack Dorsey's Block (SQ), and Griid Infrastructure are anticipated to be some of the initial users of Intel's Blocksale integrated circuits.

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