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HIVE Blockchain confirms a deal with Intel, set to acquire new ASIC chips

07 Mar 2022 : 08:30
2 min read
  • HIVE Blockchain has confirmed a the "Supply Agreement" with Intel and also partnerd with an ODM
  • The crypto miner will purchase new high-performing ASIC chips from Intel
  • HIVE Blockchain will enter into a "non-binding Letter of Intent ("LOI") with Compute North" host 100 megawatts ("MW") of mining capacity

As per a recent press release, HIVE Blockchain and Intel have confirmed a deal that involves the “purchase new high performing ASIC chips that will be incorporated into state-of-the-art mining equipment that will be custom-built for HIVE.” This ‘supply deal ‘ will be a major venture from HIVE Blockchain that aims to dominate the Bitcoin mining industry. 

Deal with Intel

As per the “Supply Agreement” with Intel, one of the largest semiconductor manufacturers across the globe, the first publicly traded crypto miner will buy purchase new high-performing ASIC chips from Intel, and these mining chips will be custom-built for the crypto miner. Moreover, HIVE Blockchain will also work with an ODM or original design manufacturer with whom the firm has struck a manufacturing deal. 

As per the press release, the ODM will have the responsibility to ” integrate Intel’s blockchain accelerators into an air-cooled Bitcoin mining system.” Moreover, the engineering team of HIVE Blockchain will also provide their expertise on blockchain and crypto mining, working closely with Intel and the ODM. 

As per the statement from Aydin Kilic, President & COO of HIVE, “HIVE will participate in the system development process from design verification, through to the prototype stages, and then factory & test engineering regimens to arrive at a production model.”

HIVE Blockchain strikes 100 MW Renewable Energy Deal in Texas

The partnership with Intel and an ODM is not everything. It is also important to note that HIVE Blockchain will also enter into a “non-binding Letter of Intent (“LOI”) with Compute North,” a firm focused on delivering the most sustainable, cost-effective computing in the world. As per the terms of the agreement, the crypto miner will “host 100 megawatts (“MW”) of mining capacity” in one of the new Texas renewable energy data center facilities of Compute North. The completion of the transactions is subject to approval from regulatory authorities, including the TSX Venture Exchange.

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