Mining company Hive Blockchain, which went public in 2017, announced on Monday that it has purchased 3,019 miners for use in Bitcoin production, increasing its production capacity by 46%.
The Vancouver-based company stated that the 3,019 MicroBT WhatsMiner M30S model devices it purchased have a total capacity of 264 PH/s. The devices included in Hive's current fleet have increased the company's production capacity from around 566 PH/s to 830 PH/s.
Based on the current difficulty level in the blockchain and the spot price of Bitcoin, Hive Blockchain plans to generate an additional $ 80,000 per day thanks to the new devices it receives.
Hive Blockchain, which purchased the mining devices from Foundry Digital LLC, a subsidiary of the Digital Currency Group, has placed them at its facilities in Quebec and New Brunswick. The company is also preparing to join the Foundry's mining pool in North America.
Frank Holmes, chairman of the board of Hive Blockchain, which is listed on Nasdaq last week, said that "mining power is shifting from east to west" in the Bitcoin network and that they are "excited" to be a part of this change.