Hive Blockchain Shares Are Up 100% YTD, Deploys Intel’s Blockscale Chip For Bitcoin Mining Machines
The shares of Bitcoin (BTC) mining firm Hive Blockchain (HIVE) are up more than 100% since the year began, while it just recently deployed its first machines based on Intel's (INTC) Blockscale chips.
Between Tuesday, January 3 and Friday, January 13, 2023, HIVE shares jumped 104.6%.
On January 3, a share stood at $1.53, while just 10 days later, it went up to $3.13. The highest point reached since the year began was $3.18 seen on January 12.
Hive Blockchain Technologies Ltd. Common Shares (HIVE), year-to-date:
Meanwhile, on Friday, the miner announced its commercial deployment of the HIVE BuzzMiner powered by the Intel Blockscale ASIC, "after months of planning, engineering development, implementing factory QA processes, field testing and global collaboration."
Per Executive Chairman Frank Holmes, HIVE is the first public crypto miner to deploy its own ASIC mining rig. He added that,
"The HIVE BuzzMiner is our testament to Proof-of-Work being the most secure and robust consensus mechanism for digital assets, of which Bitcoin is the most secure."
Aydin Kilic, President & COO of HIVE, stated that the company was able to optimize the function of the HIVE BuzzMiner to satisfy demand response programs, so that it can participate in grid balancing initiatives.
When it comes to the machines' performance, the expected targets have been met, said the press release. More than 1,500 HIVE BuzzMiner have been deployed in the data centers in Canada and Sweden, and HIVE said it retains the option to produce more HIVE BuzzMiners.
A unique point of the HIVE BuzzMiner is the dynamic range of operation, Kilic said, with the company being able to operate the machines from 110 TH/s to 130 TH/s, enabling it to optimize the profitability of its
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