Canadian mining company Hive Blockchain has bought 6,400 Canaan ASIC miners, which will increase the firm’s total hashing power to 1.22 Eh/s by the end of 2021.
According to a statement on the company’s website, Hive Blockchain will achieve its previously set goal of increasing the firm’s total hashrate to 1,229 Px / s by purchasing 6,400 Canaan AvalonMiner 1246 ASIC miners with a combined hashing power of 576 Px/s. The new devices will be delivered to the company in May this year.
After delivery and deployment of the equipment, the operational hashrate of Hive Blockchain will grow to 1.22 Eh/s, which will allow the company to achieve the goal of 1 Eh/s set for 2021. The order is almost double the number of devices purchased by the company last year – when the company purchased 3,500 ASIC miners.
Delivery and deployment of ASIC miners will begin in May and June with an initial batch of 500 devices and subsequent monthly deliveries of 900 devices until the end of the year. Amid forecasts of further growth, the Vancouver-based company’s market value soared, reaching $1 billion in early January.
In October, it was reported that the three largest asset managers – Charles Schwab, Fidelity and Vanguard-are diversifying their assets and buying shares in companies in the blockchain industry, including Hive Blockchain.