Share this article
Crypto Miner Hive Cuts Computing Power Forecast for Intel Chip-Based Rigs
The Canadian firm said 5,800 machines will provide computing power of upward of 630 petahashes per second by end of January. That's less than the October forecast of 1 exahash.
Updated Dec 9, 2022, 4:53 p.m. Published Dec 9, 2022, 9:59 a.m.
Crypto mining firm Hive Blockchain (HIVE) will receive less computing power than forecast from its mining rigs using Intel's (INTC) new chips.
The 5,800 new machines, dubbed Hive Buzzminers, will have total computing power of more than 630 petahash/second (PH/s), the Vancouver firm said Friday. In October, it estimated a total of 1 exahash/second (EH/s).
STORY CONTINUES BELOW
Hive did not give a reason for the discrepancy, and had not responded to CoinDesk's request for comment by the time of publication. It's possible it changed the specification of the machines to lower power consumption during a period of high electricity costs. It's also possible it ordered fewer machines than anticipated as the price of bitcoin fell more than 60% this year.
Some of the machines have already been installed, with the rest expected by the end of January. The rigs' computing power of about 109 terahahes/second (TH/s) per machine is a little over that of Bitmain's Antminer S19 Pro, released in 2020. Hive didn't divulge the energy efficiency or cost of the rigs, key metrics for miners struggling to keep up with high power costs. The Intel chip is touted as environmentally friendly, indicating that efficiency will be its strong suit.
Intel's second-generation Blocksale application-specific integrated circuit (ASIC) for bitcoin mining rigs was announced in April. It is expected to break the Bitmain and MicroBT duopoly in the bitcoin mining ASIC market. Miners can configure the chip into machines of their own design, such as Hive's. That is a marked difference from the Bitmain machines, which are notoriously closed-source. The flexibility, however, comes with the difficulties of deciding on designs and bringing them to production.
Argo Blockchain (ARBK), another one of Intel's early clients, decided to redesign the machines, leading to delays in deployment. The London-based company, which is working with ePIC Blockchain on the rigs, said it wanted to reorient the machines more toward power efficiency, bringing them closer to close to Bitmain's Antminer S19 XP with 134 TH/s at 21.5 joules/terahash. Initially, the machines were designed for computing power, Argo said.
Griid Infrastructure and Jack Dorsey's company, Block (formerly Square), have been named as other first customers.
Read more: Hive to Buy Intel Mining Chip That Can Raise Hashrate by 95%
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
NFT Project Pudgy Penguins Takes Over Las Vegas Sphere in Holiday Campaign
The NFT brand’s animated segments will air on the Sphere across Christmas week, signaling the crypto company's move into real-world consumer markets.
What to know:
- Pudgy Penguins will run an ad campaign at the Las Vegas Sphere during Christmas week, one of the few crypto brands to secure a spot at the high-profile venue.
- The NFT project, which launched on Ethereum in 2021, has expanded into physical toys and digital gaming as part of a broader consumer push.
- Pudgy Penguins briefly overtook Bored Apes in floor price earlier this year and recently launched its PENGU token on Solana, now trading on major exchanges.
Top Stories
