Green Energy Based BTC Miner Hive Joins North American Mining Pool

Green energy-based BTC mining company Hive has joined the North American Mining Pools Association to capitalize on the east-west shift in BTC mining power after regulators in China cracked down on the industry. So read more on our latest bitcoin news.

Following approval to list on the Nasdaq, Canadian company Hive Blockchain Technologies bought over 3,000 BTC mining devices to participate in the east-west transition. The MicroBTC miners acquired as part of the transaction were acquired by the Digital Currency Group’s subsidiary, Foundry Digital LLC, and are located at Hive facilities in Lachute, Quebec and Grand Falls, and New Brunswick. Foundry will be issued cash and 1.5 million Hive rights, according to the announcement.

Hive’s new hashing power will join the Foundry USA group, which consists of Blockap, Hut 8, Bitfarms and Foundry as participants. In light of the dramatic shift in the mining industry from China to the US and Canada, Frank Holmes, executive chairman of Hive stated that the company’s stake in the North American Mining Group promotes the company’s goal of increasing transparency and accountability to partners. Foundry CEO Mike Coyler added:

“We are pleased to have Hive as a partner for the Foundry USA Pool as we continue to do our part to secure the global Bitcoin mining network.”

The announcement states that the addition of the new miners will add an overall hash power of 264 petahashes per second and increase the overall BTC operating hash rate by 46% to 830 PH / s. Based on the current difficulty level and the BTC price, the newly improved mining setup will bring the company a daily income of $ 80,000. Hive is known for its environmentally friendly mining activities and the company has green energy data center facilities in Sweden, Canada and Iceland. Due to legal challenges, the company also sold its activities in Norway.

As recently reported, while the SEC will continue to slowly release a list of Bitcoin ETFs, traders on old exchanges who are quite eager for more exposure to the cryptocurrency will soon have a storefront. In an announcement on Friday, Canadian blockchain technology mining company Hive announced that it had received approval to list shares on the Nasdaq exchange while Hive is traded on the Nasdaq, risk TSX, code HIVE . V and focuses on both BTC and ETH mining.

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