Cipher

Bold

HIVE Digital, a <a href="https://ultramining.com/news/en/alberta-stanovitsya-centrom-majninga-v-kanade-2/" rel="noopener noreferrer nofollow">Canada</a>-based company, has announced a significant expansion in its bitcoin mining operations. The company revealed it has secured a deal for 7,000 <a href="https://ultramining.com/en/manufacturers/bitmain/" rel="noopener noreferrer nofollow">Bitmain</a> <a href="https://ultramining.com/en/hardware/antminer-s21-200-ths/" rel="noopener noreferrer nofollow">Antminer S21</a> units, a move expected to notably boost its mining capacity. This acquisition, estimated at around $20 million, aligns with the company's strategic efforts to enhance efficiency, specifically targeting an improvement to 25 J/TH once the new units are fully operational, according to <a href="https://theminermag.com/news/2023-12-22/hive-bitcoin-mining-s21-miner/" rel="noopener noreferrer nofollow">TheMinerMag</a>.
The purchase is a part of HIVE's broader strategy to solidify its position in the competitive landscape of public mining firms, especially in anticipation of the upcoming bitcoin <a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/" rel="noopener noreferrer nofollow">halving</a> event. It reflects a growing trend among public <a href="https://ultramining.com/news/en/blockstream-aims-for-bitcoin-profit-with-mining-rig-investment-ahead-of-2024-halving/" rel="noopener noreferrer nofollow">mining companies</a>, which have collectively invested over $1.4 billion in new <a href="https://ultramining.com/hardware/" rel="noopener noreferrer nofollow">hardware</a>, including recent investments by <a href="https://ultramining.com/news/en/cipher-mining-thrives-eyes-increased-market-share/" rel="noopener noreferrer nofollow">Cipher</a> Mining and <a href="https://ultramining.com/news/en/iris-energy-diversifies-into-ai-with-10-million-nvidia-gpu-purchase-amid-bitcoin-focus/" rel="noopener noreferrer nofollow">Iris Energy</a>.
HIVE's recent activity also includes the acquisition of 9,800 units of the S19K Pro model from Bitmain, illustrating its aggressive approach to expanding and updating its mining fleet. This strategy is not just about expansion but also efficiency. By the end of November, HIVE reported an installed <a href="https://ultramining.com/news/en/impending-bitcoin-halving-may-trigger-major-hashrate-decline-say-experts/" rel="noopener noreferrer nofollow">hashrate</a> of 4.18 EH/s, which has since increased to 6.6 EH/s, with expectations to reach 8 EH/s after the integration of the S21 miners.
The improvement in fleet efficiency from 38 J/TH to 25 J/TH could significantly reduce HIVE's daily hashcost to $35.5/PH/s, a crucial factor in maintaining competitiveness post-halving.
HIVE's aggressive expansion and efficiency improvements position it well for the upcoming changes in the bitcoin mining landscape and reflect the increasing competition and investment in the sector. As the industry braces for the halving, companies like HIVE are making calculated moves to ensure they remain at the forefront of the mining arms race.&nbsp;

HIVE’s Bold $20M Investment in Antminer S21s Aims to Lower Hashcosts Pre-Halving”

Ultramining_Eng

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