Hive Blockchain buys 1800 Antminers S19j Pro mining machines

Charlie Taylor

Hive Blockchain Technologies, a Canadian company in the blockchain and mining sector, announced this Friday the purchase of 1,800 Antminers S19j Pro, Bitmain's next-generation miner. The company has data centers in Canada, Sweden and Iceland, and is listed on Nasdaq, USA, the TSX Venture Exchange, the Canadian stock exchange and the Frankfurt Stock Exchange, Germany. According to the statement, the acquisition of these new mining equipment is the first act of the purchase program for the year 2022. According to the company, the new miners have an aggregate hash power of 180 PH / s (petahashes per second) . According to Coindesk's publication about the purchase, Hive had already ordered 4,000 mining companies earlier this month from Canaã, which will also add another 272 PH / s. “We are constantly increasing our concentration of ASICs to have the most efficient miners we can buy with cash flow,” said Frank Holmes, executive president of HIVE. He added: “This purchase with Bitmain allows us to maintain our strategy of diversifying the manufacturers we buy from. Last year, we voiced our concerns about global chip shortages and logistical delays in shipping equipment from Asia due to Covid 19. We have deep relationships with Bitmain, MicroBT and Canaan, all major global manufacturers in our industry.” Hive's agreement with Bitmain provides for the delivery of antminers in six batches of 300 units, starting in January and ending in June of next year. About funds mined in hold, the company reported that it has 25,000 units of ethereum (ETH) and 875 bitcoins (BTC) in cold wallets. “Our BTC and ETH funds are valued at $100 million,” the company concluded.

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