HIVE announces new cloud-based ASIC mining plant
HIVE Blockchain Technologies recently launched 200 cloud-based SHA-256 mining power facilities . The launch will take place in September. This is part of a preliminary agreement that the company had with Genesis Mining to add this mining capacity to Sweden.
It was decided in December 2017 between the Canadian company and the Swedish company. Initially, the power would be destined for Sweden with the construction of a large structure.
Under current conditions, these 200 PHs will be supplied via cloud mining for around 12 months, after which they will use mining rigs. This solution aims to provide mineral resources with low operating costs and offers flexibility to the company until the final installation of the mining platforms.
The HIVE and Genesis Partnership
This is part of a strategic partnership between Genesis Mining and ALVEARE. It will allow HIVE to have more flexibility at the same time that Genesis has an advantage in costs. In addition, it will diversify the company's capabilities by introducing new SHA-256 ASIC miners that can have a positive impact on HIVE, which may also have more coins on its portfolio.
According to HIVE's CEO, Harry Pokrandt, HIVE is dedicated to adding more capabilities to the mining network and continuing to explore the best alternatives during his partnership with Genesis Mining.
The company will track Bitcoin and other SHA-256 tokens, including Bitcoin Cash, which is also very valuable.
HIVE is a blockchain company based in Canada. It is listed on the TSX Venture Exchange, the Canadian stock exchange where trading is done entirely electronically. In addition, HIVE has an important partnership with Genesis Mining since last year. Genesis is one of the largest cloud mining companies in the world right now.
At the moment, HIVE has plants in Iceland and Sweden and mines mostly Ethereum and Bitcoin, but is trying to expand its business and this is part of the
HIVE is also one of the companies included in the Index economic Nasdaq Blockchain of Reality Shares, followed by the ETF NexGen Economy, a Nasdaq-listed ETF recently launched by Reality Shares.