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HIVE to Launch Cloud Mining Installation in September

Published 08/17/2018, 01:06 PM
Updated 08/17/2018, 02:20 PM
 HIVE to Launch Cloud Mining Installation in September

HIVE Blockchain Technologies announced on Wednesday that it would launch 200 Petahashes (PH) of cloud mining power this September in line with an agreement with Genesis Mining. The addition of 200 PHs of SHA-256 mining power was stipulated in a December 2017 agreement between the two companies. Initially, it was decided that the capacity will be added in Sweden by building a large-scale facility, but according to the new revised agreement, the 200 PHs will be offered based on a cloud mining adaptation until the mining rigs will be delivered within the next year.

The cloud mining infrastructure permits HIVE to benefit from lower operating costs compared to building and managing a large facility in Sweden. It also gives HIVE the flexibil...


This article appeared first on Cryptovest

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