HIVE to Launch Cloud Mining Installation in September
Cryptovest
Published Aug 17, 2018 01:06PM ET
Updated Aug 17, 2018 02:20PM ET
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...
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