HIVE Blockchain Technologies has used the proceeds from the sale of approximately 10,000 ETH to “fund a strategic relationship with Intel and create new bitcoin miners.” Representatives of the firm justified the decision by the volatility of the second cryptocurrency in terms of capitalization, as well as the fact that it “surpassed bitcoin at the end of last year.”
🔺 “We will continue to sell ETH at strategic times to fund our long-term BTC mining goals,” the company said. According to them, Ethereum mining is “a highly profitable but less competitive niche.” Income from it can be used to strengthen positions among large bitcoin miners.
📌 HIVE Blockchain also reported an increase in computing power used for mining digital gold – during May, the hashrate increased by 8%. The increase was achieved through the “installation and modernization of equipment.” In May, the company mined 273.4 BTC and 2694 ETH. At the end of last month, the hashrate for bitcoin mining was 2.18 EH/s, while the figure for Ethereum was 6.26 TH/s.
🔺 “In May, we issued an average of 8.8 BTC per day. We are pleased to announce that we are now producing approximately 9.2 BTC per day, even after the recent increase in difficulty by 5.5%,” said Frank Holmes, CEO of HIVE Blockchain.
☝️ Recall that in March, HIVE Blockchain entered into an agreement with Intel on the purchase of mining equipment based on the ASIC chip developed by the corporation.
Read more about cryptocurrencies and mining at CRYPTO-MINING.CLUB . Do you like to read similar articles about cryptocurrencies and mining, do you want to support me as an author or ask questions? Be the first to know the news, subscribe to my telegram channel https://t.me/cryptomineg
The development of multiple payment solutions is now possible thanks to blockchain technology. The Bitcoin network was in first place. All users of the system are equipped with bitcoin wallets. You must specify the address to send BTCcurrency there. Some other blockchains use cryptocurrency banknotes in special circumstances. To make transactions, you will also need to specify this identifier and your address. Otherwise, there is a possibility that the delivered digital materials may be lost.
Bitcoin has grown more than 2.2 million times in the 13 years of its existence (from $0.03 to $69,001 at the maximum in November 2021). Owning BTC has traditionally been associated with wealth. If the asset increases over time, even a small amount of coins, such as 0.01 coins, can…
A large number of ASICs and video cards go on the secondary market when the value of bitcoin drops. To make money, some people put fully built farms up for sale. The Fear and Greed Index often reaches 0 during crypto-winter (the “extreme fear” zone). However, not all miners close their doors because of low lending rates. Other factors, such as upgrades or personal circumstances, may apply to sellers. Experienced market players continue mining until they can make at least enough money to cover their power costs. In this post, we’ll explain why mining farms sell out when they are profitable. Investing in old equipment can be successful.