Publicly-Listed Miner Hive Plans to Transfer ETH Hashrate to Other GPU Mineable Coins Ahead of Merge


Publicly-Listed Miner Hive Plans To Transfer ETH Hashrate To Other GPU Mineable Coins Ahead Of Merge

Whereas the cryptocurrency neighborhood prepares for The Merge, the Nasdaq-listed, Hive Blockchain Applied sciences, revealed within the firm’s August 2022 manufacturing replace that it plans to re-distribute its hashpower devoted to Ethereum towards “different GPU mineable cash.”

Publicly-Listed Miner Hive Plans To Transfer ETH Hashrate To Other GPU Mineable Coins Ahead Of Merge

Hive’s Technical Workforce Researches Different GPU Mineable Cash

On September 6, Hive Blockchain Applied sciences (Nasdaq: HIVE) revealed the corporate’s August manufacturing report which talks a couple of “report month-to-month BTC manufacturing” and the appointment of a brand new common counsel member. Hive additionally mentioned the upcoming Ethereum community transition from proof-of-work (PoW) to proof-of-stake (PoS).

Publicly-Listed Miner Hive Plans To Transfer ETH Hashrate To Other GPU Mineable Coins Ahead Of Merge

Hive devoted 6.49 terahash per second (TH/s) of Ethash hashrate towards the Ethereum chain in August and noticed a mean of 6.19 TH/s over the last 30 days. The publicly listed mining operation additionally talked concerning the Bellatrix improve and the estimated Merge date. The corporate has been getting ready for the transition and can dedicate its GPU hashrate elsewhere.

Publicly-Listed Miner Hive Plans To Transfer ETH Hashrate To Other GPU Mineable Coins Ahead Of Merge

“Hive has already commenced evaluation of mining different GPU mineable cash with its fleet of GPUs, and is implementing beta-testing this week, previous to [The Merge],” Hive mentioned on Tuesday. “The corporate’s technical group is implementing a method to optimize the hashrate economics of the 6.5 Terahash of Ethereum mining capability within the occasion of Ethereum’s transition to proof-of-stake, throughout numerous different GPU mineable cash.”

Publicly-Listed Miner Hive Plans To Transfer ETH Hashrate To Other GPU Mineable Coins Ahead Of Merge

Most of Hive’s mining capability is devoted to mining bitcoin (BTC) but it surely additionally famous that mining ethereum has been worthwhile. Hive notes that the corporate’s ethereum mining operations have “traditionally generated Three to four instances extra income per megawatt than bitcoin mining.”

Publicly-Listed Miner Hive Plans To Transfer ETH Hashrate To Other GPU Mineable Coins Ahead Of Merge

In August Hive managed to accumulate 518.eight BTC and accrued 16.7 BTC per day. Hive claims to have near four or 3,900,000 terahash devoted to the Bitcoin blockchain. Hive mentioned it noticed “a peak BTC Equal Hashrate of three.92 in August, with [an] common hashrate of three.70 of BTC Equal Hashrate all through August.”

Publicly-Listed Miner Hive Plans To Transfer ETH Hashrate To Other GPU Mineable Coins Ahead Of Merge

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BTC miner, ETH, ETH miner, ETH Miners, ETH mining, Ethereum, Ethereum mining, Ethereum The Merge, hive, Hive Blockchain, mining operation, nasdaq, Nasdaq: HIVE, Publicly Listed Miner, The Merge

What do you consider Hive explaining that it has been researching different minable GPU cash forward of The Merge? Tell us what you consider this topic within the feedback part beneath.

Jamie Redman

Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist dwelling in Florida. Redman has been an energetic member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 5,700 articles for Bitcoin.com Information concerning the disruptive protocols rising in the present day.

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