HIVE Blockchain to upgrade their mining devices with new Intel ASIC chips

HIVE, a publicly listed cryptocurrency mining company, announced on Twitter they have signed a deal with Intel to purchase high-performing Bonanza Mine chips specifically designed for mining.

Bonanza Mine is the first crypto-focused chip from Intel, called a “blockchain accelerator”. HIVE expects Bonanza Mine to increase their aggregate Bitcoin hashrate up to 95% from 1.9 Exahash per second. It will also reduce energy consumption by 15%, bringing the company closer to the goal of environmentally sustainable mining. New chips will be delivered over a period of one year, starting from the second half of 2022.

Application-specific integrated circuits (ASIC) are designed to perform a single logic function and can’t be reprogrammed. Combined with their high performance and low power consumption, ASICs make for an ideal pick for miners.