Ex-Eth Miner Hive Blockchain Eyes On Power Possibilities after the Merging

Ex-Eth Miner Hive Blockchain Eyes On Power Possibilities after the Merging

The change from Ethereum to an underlying proof-of-stake consensus model has forced the ether mining operation to a change, which, according to industry observers, could trigger a wave of takeovers.

Although some of the larger Ethereum miners are doing well, Andy Long, CEO from White Rock Management, told Blockworks, you will probably search for ways to get an additional hash rate quickly.

Hive Blockchain Technologies, previously the largest listed Ether miner (ETH), reduced 821 Bitcoins (BTC) and 7,675 ETH in the second quarter of the year. It has sold Ether in the past few months to buy new application-specific integrated circuits (ASICS) for Bitcoin mining, also as part of Corporation .

The Hive CEO, Frank Holmes, told Blockworks that the company had the money to make payments to Intel-Miner and look for other options in view of an overpowering of machines.

"We believe that there will be some great purchases for equipment and everything in the next six months," said Holmes.

hive entered a at-the-market-shares agreement Beginning of this month for up to 100 million US To support mining companies. The executive said that the company did so "in the event that something appears that it can buy something on the dollar for 10 cents".

hive and hat 8 pivot to Merge

hive blockchain technology said last week that it analyzes the mine of other coins with its fleet of graphics processors (GPUS).

"Anyone who has grown with GPUs has thought about it from the start," said Long. "What [Ether Miners] has is a lot of power ... just like Bitcoin companies, so it's all about being able to provide the hardware quickly."

Holmes said on Thursday after the merger that it had switched to the mining of Ethereum Classic (etc) and that these assets would hold in the middle of what he expected for a few weeks. The company evaluates other coins to be abandoned such as Ravencoin (RVN).

The hash rate of etc which was created in 2016 as the result of the DAO hacks, according to Coinwarz.com, according to the merger, there was roughly 215 Terahashes per second (TH/S) from 3:00 p.m. The hash rate of RVN also recorded strong growth Thursday, increase to 18.8 Th/s at this point.

hut 8 Mining CEO Jaime Leverton announced Blockworks in an email that observed the company how the digital assets for proof-of-work will ultimately have an impact.

"While Ethereum mining only issued a very small part of our company, we work with our mining pool, while the hash rate hikes away from the Ethereum network to start mining the most profitable digital proof-of-work assets," she added. "We have long been optimistic about Bitcoin and other proof-of-work-assets, but we are also very committed to expanding the infrastructure in our data centers to support the emerging blockchain and web3 areas."

The 180 Nvidia GPUs of Hut 8, which ether etched, should turn to offer services for artificial intelligence, machine learning or visual effects.

mining comes m & a?

long said that the top-eth-miners will survive due to strong balance sheets and operations.

"I think there is a greater challenge for the little miners with microcapitalization, which have more or less financed their companies with debts and may now have problems or just affect the debt payments," he said. "And then you have to find out how you can replace the hardware in a year or two, and you are only on this endless treadmill."

ericchen, CEO of injective labs, agreed that a number of miners will probably have difficulty developing their businesses, which could offer a number of acquisition options for larger companies.

The executive, however, added that the restrictive rhetoric of the Federal Reserve in connection with what he called it, "dark" macrouombic field had led to a great decline in activities in the field of mergers and takeover (M&A) on a broad front.

"The newer miners who have not experienced the former Ethereum fork will probably be strongest ... Due to their relative inexperience compared to the more experienced miner fractions," said Chen.

executives from the crypto mining said that mergers and acquisitions may not be a good option for larger miners-although smaller companies may want to sell.

"What I noticed is that most transactions that have taken place ... In contrast to mergers, it is about assets and horse trade," said Peter Wall, CEO from Argo Blockchain, during the Panel.

he pointed out the takeover of Whinstone from Northern Data by Riot Blockchain last year and to the deal of Cloanspark last week to buy a Bitcoin mining system in Georgia from Mawson Infrastructure Group.

"We all have luggage, we all have management teams and some of us have owe," said Wall. "And if you are able to either acquire infrastructure or rigs and leave out all the rest of the luggage, it will be more interesting."

Leverton said that even asset -based businesses with other companies can be “difficult” because the prices for machines have dropped sharply in recent months.

"There are more machines than we may be able to connect in the next six to nine months," she said. "If you have paid 70 or 80 dollars per tera-hash for your equipment-and you have a certain influence on it-I will not take your debts for overpriced machines if I can simply buy machines directly for $ 20 or $ 25 per tera hash.

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The Post Ex-Eth Miner Hive Blockchain Eyes Buying Opportunities Post-Merge is not a financial advice.