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


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.”

Hive’s Technical Staff Researches Different GPU Mineable Cash

On September 6, Hive Blockchain Applied sciences (Nasdaq: HIVE) revealed the corporate’s August manufacturing report which talks a few “file month-to-month BTC manufacturing” and the appointment of a brand new basic 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 last 30 days. The publicly listed mining operation additionally talked in regards to the Bellatrix improve and the estimated Merge date. The corporate has been making ready for the transition and can dedicate its GPU hashrate elsewhere.

“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 stated 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 varied different GPU mineable cash.”

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 3 to 4 occasions extra income per megawatt than bitcoin mining.”

In August Hive managed to amass 518.8 BTC and accrued 16.7 BTC per day. Hive claims to have near 4 exahash or 3,900,000 terahash devoted to the Bitcoin blockchain. Hive stated it noticed “a peak BTC Equal Hashrate of three.92 Exahash in August, with [an] common hashrate of three.70 Exahash of BTC Equal Hashrate all through August.”

Tags on this story

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 under.

Jamie Redman

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

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