Mining Firm HIVE Blockchain Sells 10,000 ETH to Acquire More Devices

Mining company HIVE Blockchain Technologies has used the proceeds from the sale of about 10,000 ETH to “fund a strategic relationship with Intel and create new bitcoin miners.”

According to representatives of the company, the decision has been made because of the volatility of ETH as well as by the fact that the asset “surpassed Bitcoin last year.”

According to them, Ether mining is “a highly profitable but less competitive niche.” Income from it can be used to strengthen positions among large bitcoin miners.

HIVE Blockchain has also reported an increase in computing power used to mine digital gold. During May, the hashrate increased by 8%, an increase that was achieved through “equipment installation and upgrade.”