While the cryptocurrency neighborhood prepares for The Merge, the Nasdaq-listed, Hive Blockchain Technologies, revealed within 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 Other GPU Mineable Coins
On September 6, Hive Blockchain Technologies (Nasdaq: HIVE) revealed the corporate’s August manufacturing report which talks a couple of “record monthly BTC production” 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).
Hive devoted 6.49 terahash per second (TH/s) of Ethash hashrate towards the Ethereum chain in August and noticed a median of 6.19 TH/s over the past 30 days. The publicly listed mining operation additionally talked concerning the Bellatrix improve and the estimated Merge date. The firm has been making ready for the transition and can dedicate its GPU hashrate elsewhere.
“Hive has already commenced analysis of mining other GPU mineable coins with its fleet of GPUs, and is implementing beta-testing this week, prior to [The Merge],” Hive stated on Tuesday. “The company’s technical team is implementing a strategy to optimize the hashrate economics of the 6.5 Terahash of Ethereum mining capacity in the event of Ethereum’s transition to proof-of-stake, across various other GPU mineable coins.”
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 “historically generated 3 to 4 times more revenue per megawatt than bitcoin mining.”
In August Hive managed to purchase 518.8 BTC and accrued 16.7 BTC per day. Hive claims to have shut to 4 exahash or 3,900,000 terahash devoted to the Bitcoin blockchain. Hive stated 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.”
What do you concentrate on Hive explaining that it has been researching different minable GPU cash forward of The Merge? Let us know what you concentrate on this topic within the feedback part beneath.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational functions solely. It shouldn’t be a direct supply or solicitation of a proposal to purchase or promote, or a suggestion or endorsement of any merchandise, providers, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the writer is accountable, straight or not directly, for any harm or loss prompted or alleged to be attributable to or in reference to the use of or reliance on any content material, items or providers talked about on this article.