Hive Digital Technologies, a publicly-listed company based in Vancouver, is taking its Bitcoin mining operations to new heights with the acquisition of 7,000 new ASIC bitcoin mining rigs from Bitmain. These Antminer S21 units are expected to be delivered from January to June next year.
This latest purchase follows Hive’s previous acquisitions of S19k Pro miners last month, consisting of 5,000 S19k units and 4,800 S19k Pro units. With the addition of the 7,000 S21 devices, Hive’s recent total orders now amount to 16,800 next-generation Bitmain miners. These new miners are expected to have an average efficiency of 25 joules per terahash (J/T), contributing 1.4 exahash per second (EH/s) of mining power.
Hive’s expanded capacity will increase its total mining power from 6.6 EH/s to 8 EH/s. This expansion aligns with the company’s strategy to venture into artificial intelligence (AI) and high-performance computing (HPC) technologies. To enhance its technological capabilities, Hive has also integrated 96 Nvidia H100 graphics processing units (GPUs) into its collection.
The acquisition of mining rigs from prominent manufacturers like Bitmain and Microbt has been a common trend in the industry. Other companies such as Cipher Mining, Riot, Cleanspark, and DMG have also been bolstering their mining fleets with new machines. Bitmain’s models acquired by Hive have a hash rate of 200 terahash per second (TH/s) and consume 3,500 watts of power, boasting an efficiency of 17.5 J/T.
With the anticipated halving event expected to occur in March or April 2024, the mining community is proactive in preparing for increased efficiency and power. The incorporation of new miners ensures that these companies maintain a competitive edge and can continue supporting the blockchain’s security and integrity through improved performance and ongoing expansion.