Hive Blockchain explores new mineable coins ahead of Ethereum merge

Hive mentioned that the Boden, a Sweden-based Ethereum mining website, is among the most powerful in the world with power at $0.03 U.S. Dollars per Kilowatt hour. The company mentioned that Hive was well-positioned to browse the marketplace ahead.

Hive, a Canadian crypto mining business, stated that it has actually been looking at options to mine with its GPU stash in advance of the Ethereum Merge.

Hive likewise kept in mind that Ethereum mining has historically produced 3 to 4 times the income per megawatt as Bitcoin (BTC). To money the expansion of its Bitcoin mining program, Hive has actually been selling its Ether mined to finance a new generation Application-Specific Integrated Circuits. Hive had 5,100 Ethereum since August 31, 2022.

Hive also kept its Bitcoin stash intact, collecting a total 3,258 BTC at the end of August. The update programs that Hive mined 290.4 BTC in August, which produced more than 9 Bitcoin per hour despite the fact that the Bitcoin problem rose on Aug. 28. Hive is one of the couple of crypto mining companies to have selected to keep their BTC in the continuous crypto winter season 2022, as previously reported.

Hive specified in an upgrade that “the company acknowledges prospective Ethereum Merge-to Proof of Stake.” It mentioned that it visualizes a market where GPU miners with the finest equipment and the least expensive electrical energy expenses will win.

The update states that Hive started beta-testing numerous GPU-mineable currencies this week. This is in preparation for the Ethereum Merge PoS, which is expected to take location in mid-September. Hives technical department has been working to enhance its Ethereum mining capacities, which is 6.5 Terahashes per Second.

Hive Blockchain, a cryptocurrency miner, has actually been trying to change the mining Ether (ETH), with other coins when it comes to Ethereums upcoming shift from proof-of-stake to PoS.

Related: Ethereum Merge to “swamp” other coins with miners– Mining Chief

This news comes amidst the Ethereum Merge, a long-awaited upgrade to Ethereum that will move its blockchain far from mining-based evidence of work (PoW), to mining-free PoS. The Bellatrix upgrade was made offered on Tuesdays Beacon Chain (the PoS chain of the network), marking another action towards Ethereum Merge.
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Hive likewise noted that Ethereum mining has actually historically produced 3 to four times the earnings per megawatt as Bitcoin (BTC). Hive had 5,100 Ethereum as of August 31, 2022.

Hives technical department has been working to enhance its Ethereum mining capacities, which is 6.5 Terahashes per Second.

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