Vancouver’s Hive Digital Makes Major Purchase
Hive Digital, a bitcoin mining company based in Vancouver, recently announced its acquisition of 4,800 Bitmain S19k Antminer mining rigs. The company believes that this purchase will strengthen its position and prepare it for the upcoming reward halving.
Strategic Expansion with Antminer S19k Pro Units
Hive Digital joined the trend of bitcoin mining companies acquiring large quantities of mining rigs by purchasing 4,800 Antminer S19k Pro units from Bitmain. These units are expected to be delivered within 30 days and will improve Hive’s efficiency measured in joules per terahash (J/T).
Efficient Mining with Antminer S19k Pro
The Antminer S19k Pro is an air-cooled mining rig with a hashrate capability of up to 120 terahash per second (TH/s). With an efficiency of about 23 J/T and consuming approximately 2,760 watts (W) from the wall, these machines are expected to enhance Hive’s operations before the block reward halving in April 2024.
Challenges and Growth for Hive Digital
Recent data indicates that Hive has faced challenges related to efficiency and rising costs in its bitcoin mining operations. Despite this, the company has acquired a total of 8,900 bitcoin mining rigs in the last six months, all of which offer better J/T efficiency than its older models. Although its shares have declined recently, year-to-date, the company’s shares have risen significantly.
Hot Take: Strategic Acquisition for Future Growth
Hive Digital’s acquisition of 4,800 Antminer S19k Pro units from Bitmain represents a strategic move to strengthen its position in the bitcoin mining industry. With a focus on efficiency and growth, this purchase positions Hive for success despite recent challenges.
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