Hive Bolsters Mining Power With Purchase of 4,800 Bitmain S19k Bitcoin Miners Ahead of 2024 Halving

On Tuesday, Hive Digital, a bitcoin mining institution based successful Vancouver, revealed its acquisition of 4,800 Bitmain S19k Antminer mining rigs. Hive stated that this acquisition is intended to fortify the steadfast and strategically presumption it for the anticipated reward halving.

Vancouver’s Hive Digital Ups Ante With 4,800 Antminer Buy

In caller months, determination has been a notable surge successful bitcoin mining companies acquiring important quantities of mining rigs from starring manufacturers. Hive Digital (Nasdaq: HIVE) joined this inclination connected November 14, announcing their acquisition of 4,800 Antminer S19k Pro units from Bitmain. The institution expects these units to beryllium delivered wrong 30 days, aiming to heighten Hive’s ratio measured successful joules per terahash (J/T).

The Antminer S19k Pro, a SHA256-based, air-cooled mining rig, boasts a hashrate capableness of up to 120 terahash per 2nd (TH/s). These machines devour astir 2,760 watts (W) from the partition and person an ratio of astir 23 J/T. Hive’s strategy is to upgrade its older 38 J/T machines to these much businesslike 23 J/TH models anterior to the artifact reward halving. Scheduled for April 2024, this halving lawsuit volition slash miners’ net by implicit half.

Recent data from theminermag.com indicates that Hive is “one of the slightest businesslike operations.” According to Miner Mag, Hive’s bitcoin mining costs surged by 21.2% successful the 3rd quarter, reaching implicit $22,000 per BTC mined. Hive besides revealed connected Tuesday that it has acquired a full of 8,900 bitcoin mining rigs successful the past six months, each of which connection amended J/T ratio than its older models.

Despite this, Hive shares person declined 8.95% successful the past time and 9.24% implicit the past month. Yet, year-to-date, the company’s shares person risen by 86.27% against the U.S. dollar. Currently, Hive’s hashrate stands astatine astir 4.1 exahash per 2nd (EH/s), accounting for 1% of the Bitcoin network’s full hashrate. The institution mines astir 9 BTC daily, and with the anticipated accomplishment of the caller S19k Pro units, its hashrate is expected to summation further.

What bash you deliberation astir Hive’s latest mining rig acquisition? Share your thoughts and opinions astir this taxable successful the comments conception below.