Hive Digital Technologies, a Vancouver-based publicly-listed company, strengthens its Bitcoin mining fleet with the acquisition of 7,000 cutting-edge Bitmain S21 ASIC units. The move contributes 1.4 EH/s to its hashpower, positioning Hive for enhanced efficiency in the evolving landscape of cryptocurrency mining.
Hive Digital Technologies, listed on Nasdaq as HIVE, continues its strategic expansion in the Bitcoin mining sector with a substantial acquisition of 7,000 Bitmain Antminer S21 application-specific integrated circuit (ASIC) units. This comes as the latest addition to their recent procurement of 16,800 next-generation Bitmain miners, showcasing a commitment to technological advancement.
The ordered S21 devices, set to arrive between January and June next year, amplify Hive’s hashpower by 1.4 exahash per second (EH/s), propelling its total capacity to 8 EH/s. This move follows previous acquisitions of S19k and S19k Pro miners, totaling 9,800 units, in a clear demonstration of Hive’s dedication to staying at the forefront of Bitcoin mining capabilities.
The company’s mining efficiency is set to improve, with the new miners boasting an average of 25 joules per terahash (J/T). Additionally, Hive has integrated 96 Nvidia H100 graphics processing units (GPUs) into its infrastructure, showcasing a broader commitment to technological diversification, including artificial intelligence (AI) and high-performance computing (HPC).
This strategic move aligns with an industry-wide trend, where leading mining entities are actively fortifying their fleets with advanced hardware from major manufacturers like Bitmain and Microbt. The competitive edge gained from such investments becomes crucial as the Bitcoin mining community braces for the anticipated halving event in March or April 2024.
Hive’s acquisition of Bitmain’s air-cooled ASIC devices, capable of delivering 200 terahash per second (TH/s) of SHA256 hashrate, solidifies its position in the evolving landscape of cryptocurrency mining. Each unit, with a power consumption of 3,500 watts, demonstrates an impressive efficiency of 17.5 J/T.
As the industry gears up for the halving event, characterized by a deliberate pivot towards enhanced efficiency and power, companies like Hive Digital Technologies strategically position themselves to not only navigate challenges but also contribute to the overall security and integrity of the blockchain.