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.
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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