Canadian bitcoin miner Hive Blockchain has bought 6,400 next generation mining machines from Canaan. The Avalonminer 1246 miners will add a combined 576 petahash per second (PH/s) to Hive’s existing hash power.

● With the addition of the new machines, Hive’s total hash rate will increase to an estimated 1,229 PH/s, well beyond the company’s original cumulative hash rate target of 1,000 PH/s for 2021.

● In a statement this week, Hive said the equipment will be delivered in eight tranches in 2021, with 500 miners delivered in May and June, and 900 miners delivered each month until year-end.

● Vancouver-based Hive said the latest purchase, which is double the 3,500 miners bought last year, “is part of our continuing strategy to increase our bitcoin mining capacity.” For the December 2020 quarter, the firm mined 140 bitcoins and over 22,000 ethereum (ETH).

● According to Canaan’s Web Store, the Avalonminer 1246 is selling for $1,450 each. The miner is the Chinese company’s most…

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Source: https://news.bitcoin.com/hive-blockchain-buys-6400-bitcoin-miners-from-canaan-capacity-reaches-1229-ph-s/