Hive Blockchain Announces Purchase Of 10,500 New Miners, Capacity To Grow To 2.47 EH/s

Hive BLockchain (TSXV: HIVE) this morning announced that the company has purchased even more cryptocurrency mining rigs, which follows two substantial orders announced last week. The company will be acquiring 10,500 additional miners, leading to the firms operating capacity climbing to 2.47 EH/s.

The new order is to consist of a total 711 PH/s in operating capacity being added to the companies digital currency operations, with a total capacity of 2,474 PH/s now to slated to be achieved by year end. The latest addition is to come via two separate orders from two separate suppliers, which reportedly reduces supplier delivery risk.

The first order is for 9,000 new mining rigs that contain a total hash rate of 666 PH/s. The first thousand miners are to be delivered in June, while 2,000 are then to be delivered each month from September through to December 2021. The second order consists of 1,500 miners that are to add 45 PH/s in capacity to the operation which are to be delivered by the end of this month.

Details on the specific miners to be delivered were not provided, however the breakdown suggests the two orders are for different models, with the latter being significantly more efficient. Financial details of the transaction was also not provided.

Upon completion, the firm is expected to have 2,474 PH/s of Bitcoin mining capacity, along with 2,725 GH/s of Ethereum mining capacity.

Hive Blockchain last traded at $4.82 on the TSX Venture.

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