Sep 7, 2022 12:11 UTC
Sep 7, 2022 at 12:11 UTC
While the cryptocurrency group prepares for The Merge, the Nasdaq-listed, Hive Blockchain Technologies, disclosed inside the firm’s August 2022 manufacturing replace that it plans to re-distribute its hashpower devoted to Ethereum towards “other GPU mineable coins.”
Hive’s Technical Team Researches different GPU Mineable Coins
On September 6, Hive Blockchain Technologies (Nasdaq: HIVE) revealed the corporate’s August manufacturing report that talks of a pair of “record monthly BTC production” and due to this fact the appointment of a alternative common counsel member. Hive conjointly talked about the approaching Ethereum community transition from proof-of-work (PoW) to proof-of-stake (PoS).
Hive devoted 6.49 terahash per second (TH/s) of Ethash hashrate towards the Ethereum chain in August and noticed a averege of 6.19 TH/s all through the final thirty days. The in public listed mining operation conjointly talked in regards to the Bellatrix improve and due to this fact the calculable Merge date. the company has been getting ready for the transition and may dedicate its GPU hashrate elsewhere.
“Hive has already commenced analysis of mining alternative GPU mineable coins with its fleet of GPUs, and is implementing beta-testing on, before [The Merge],” Hive aforesaid on weekday. “The company’s technical team is implementing a technique to optimize the hashrate political economy of the 6.5 Terahash of Ethereum mining capability within the event of Ethereum’s transition to proof-of-stake, across varied alternative GPU mineable coins.”
Most of Hive’s mining functionality is dedicated to mining bitcoin (BTC) ; nonetheless , it conjointly famous that mining ethereum has been worthwhile. Hive notes that the corporate’s ethereum mining operations have “historically generated three to four times a lot of revenue per power unit than bitcoin mining.”
In August Hive managed to amass 518.8 BTC and elevated 16.7 BTC per day. Hive claims to personal on the brink of 4 exahash or 3,900,000 terahash devoted to the Bitcoin blockchain. Hive aforesaid it noticed “a peak BTC Equivalent Hashrate of 3.92 Exahash in August, with [an] average hashrate of 3.70 Exahash of BTC Equivalent Hashrate throughout August.”