HIVE Blockchain to Reach 1,000 PH/s Goal with Canaan ASICs
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The Toronto Stock Exchange-listed HIVE Blockchain announced it has achieved 1,000 PH/s goal with the purchase of 6,400 Canaan AvalonMiner 1246 ASIC miners.

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According to an announcement, the purchase will allow the company to meet its capacity goal and increase to an estimated 1,229 PH/s by the end of 2021. HIVE Blockchain expects the new equipment to be delivered in eight tranches in 2021, with 500 miners in May and June and 900 miners "delivered each month in the remainder of calendar 2021."

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Canaan CEO and Chairman, Nangeng Zhang, says the strength of the bitcoin mining ecosystem depends on the ability of hardware manufacturers to deliver a consistent supply of high-performance hardware.

"With our strategic multi-foundry approach, we’re able to consistently provide product excellence and operational support," he added.

As iHodl earlier reported, cryptocurrency bank Galaxy Digital, founded by the bitcoin enthusiast Mike Novogratz, rolled out a new division specifically focused on Bitcoin mining. The Galaxy Digital Mining product line includes lending, investment and risk management tools and the mining team is located in a data center in the United States.

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