{"id":62571,"date":"2022-06-07T14:51:29","date_gmt":"2022-06-07T11:51:29","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=62571"},"modified":"2025-09-05T18:51:58","modified_gmt":"2025-09-05T15:51:58","slug":"hive-blockchain-sells-10000-eth-to-fund-intel-based-bitcoin-miners","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/hive-blockchain-sells-10000-eth-to-fund-intel-based-bitcoin-miners\/","title":{"rendered":"HIVE Blockchain sells 10,000 ETH to fund Intel-based Bitcoin miners"},"content":{"rendered":"<p>HIVE Blockchain Technologies <a href=\"https:\/\/www.hiveblockchain.com\/news\/hive-blockchain-provides-may-2022-production-update\/\" title=\"\u043d\u0430\u043f\u0440\u0430\u0432\u0438\u043b\u0430\">\u043d\u0430\u043f\u0440\u0430\u0432\u0438\u043b\u0430<\/a> proceeds from the sale of about 10,000 ETH toward &#8220;funding strategic relationships with Intel and the creation of new Bitcoin miners&#8221;.<\/p>\n<p><!--more--><\/p>\n<p>Representatives attributed the decision to Ethereum\u2019s volatility, the second-largest cryptocurrency by market capitalization, and to its having &#8220;outperformed Bitcoin over the past year&#8221;.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We will continue to sell ETH at strategically important moments to fund our long-term BTC mining goals,&#8221; said the company&#8217;s representatives.<\/p>\n<\/blockquote>\n<p>According to them, Ethereum mining is &#8220;highly profitable, but a less competitive niche&#8221;. Proceeds from it can be used to strengthen positions among major Bitcoin miners.<\/p>\n<p>HIVE Blockchain also reported growth in the computing power used to mine digital gold \u2014 during May the hashrate rose by 8%. The increase was driven by &#8220;the installation and upgrading of equipment&#8221;.<\/p>\n<p>In May the company mined 273.4 BTC and 2,694 ETH. At the end of last month, the Bitcoin-focused hashrate stood at 2.18 EH\/s, the Ethereum metric at 6.26 TH\/s.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;In May we mined an average of 8.8 BTC per day. We are pleased to report that we are now producing about 9.2 BTC per day, even after the recent 5.5% rise in difficulty,&#8221; said HIVE Blockchain CEO Frank Holmes.<\/p>\n<\/blockquote>\n<p>In March, <a href=\"https:\/\/forklog.com\/en\/news\/hive-blockchain-to-buy-bitcoin-miners-from-intel\">HIVE Blockchain<\/a> signed a deal with Intel to purchase mining equipment based on the ASIC chip developed by the corporation.<\/p>\n<p>Subscribe to ForkLog&#8217;s channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>HIVE Blockchain Technologies directed the proceeds from the sale of about 10,000 ETH toward &#8220;funding strategic relationships with Intel and the creation of new Bitcoin miners&#8221;.<\/p>\n","protected":false},"author":1,"featured_media":62572,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1106,736],"class_list":["post-62571","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-hive","tag-intel"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=62571"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62571\/revisions"}],"predecessor-version":[{"id":62573,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/62571\/revisions\/62573"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/62572"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=62571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=62571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=62571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}