HIVE Acquires Over 3K Bitcoin Mining Rigs
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HIVE Blockchain, a cryptocurrency-focused company, has announced the acquisition of 3,019 MicroBT WhatsMiner M30S mining rigs from Foundry Digital LLC, a subsidiary of the Digital Currency Group.

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According to a press release, the machines have an aggregate hash power of 264 PH/s. With the new mining rigs, HIVE will increase its bitcoin (EXANTE: Bitcoin) hashrate by ~46%. HIVE plans to generate every day $80,000 at the current difficulty and bitcoin price.

"We are pleased to be executing on a transaction that dramatically increases our mining capacity without any logistics delays," said Frank Holmes, Executive Chairman of HIVE.

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As part of the agreement, HIVE will issue cash and 1.5 million warrants, subject to regulatory approval. Each full warrant will entitle the holder to acquire one common share for C$3.11 for a period of two years, the company noted.

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