Whereas the cryptocurrency neighborhood prepares for The Merge, the Nasdaq-listed, Hive Blockchain Applied sciences, revealed within the firm’s August 2022 manufacturing replace that it plans to re-distribute its hashpower devoted to Ethereum towards “different GPU mineable cash.”
Hive’s Technical Group Researches Different GPU Mineable Cash
On September 6, Hive Blockchain Applied sciences (Nasdaq: HIVE) printed the corporate’s August manufacturing report which talks a few “report month-to-month BTC manufacturing” and the appointment of a brand new common counsel member. Hive additionally mentioned the upcoming Ethereum community transition from proof-of-work (PoW) to proof-of-stake (PoS).
Hive devoted 6.49 terahash per second (TH/s) of Ethash hashrate towards the Ethereum chain in August and noticed a mean of 6.19 TH/s over the last 30 days. The publicly listed mining operation additionally talked in regards to the Bellatrix improve and the estimated Merge date. The corporate has been getting ready for the transition and can dedicate its GPU hashrate elsewhere.
“Hive has already commenced evaluation of mining different GPU mineable cash with its fleet of GPUs, and is implementing beta-testing this week, previous to [The Merge],” Hive stated on Tuesday. “The corporate’s technical staff is implementing a technique to optimize the hashrate economics of the 6.5 Terahash of Ethereum mining capability within the occasion of Ethereum’s transition to proof-of-stake, throughout varied different GPU mineable cash.”
Most of Hive’s mining capability is devoted to mining bitcoin (BTC) nevertheless it additionally famous that mining ethereum has been worthwhile. Hive notes that the corporate’s ethereum mining operations have “traditionally generated 3 to 4 instances extra income per megawatt than bitcoin mining.”
In August Hive managed to accumulate 518.8 BTC and accrued 16.7 BTC per day. Hive claims to have near 4 exahash or 3,900,000 terahash devoted to the Bitcoin blockchain. Hive stated it noticed “a peak BTC Equal Hashrate of three.92 Exahash in August, with [an] common hashrate of three.70 Exahash of BTC Equal Hashrate all through August.”
What do you concentrate on Hive explaining that it has been researching different minable GPU cash forward of The Merge? Tell us what you concentrate on this topic within the feedback part under.
Picture Credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This text is for informational functions solely. It isn’t a direct provide or solicitation of a proposal to purchase or promote, or a suggestion or endorsement of any merchandise, companies, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the writer is accountable, immediately or not directly, for any harm or loss triggered or alleged to be attributable to or in reference to using or reliance on any content material, items or companies talked about on this article.