Crypto miner HIVE Blockchain said it will produce various other GPU mineable coins after Ethereum shifts to Proof-of-Stake.
The Canadian cryptocurrency miner HIVE Blockchain announced its August production figures, saying it mined 290.4 BTC and 3,010 ETH. The company’s equivalent BTC production was 518.8 BTC with an average hashrate of 3.70 Exahash.
“In August, we produced an average of 16.7 Bitcoin Equivalent per day, comprised of approximately 9.4 BTC per day and our Ethereum production of approximately 97 Ethereum per day. We are pleased to note that as of today, we are producing over 9 BTC, even with last week’s Bitcoin difficulty increase of almost 10%,” stated Frank Holmes – Executive Chairman of HIVE.
Adding the latest production to the equation, the company held 3,258 BTC and 5,100 ETH as of August 31, 2022.The miner also touched upon Ethereum’s upcoming transition from Proof-of-Work consensus mechanism to Proof-of-Stake . The company’s technical team is looking to optimize the hashrate economics of the 6.5 Terahash of ETH mining capacity and start producing various other GPU mineable coins.
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