Hive Blockchain Technologies Ltd, a Vancouver-based cryptocurrency mining firm headquartered in Canada, introduced on July 1 Thursday that it has signed a Graphics Processing Unit (GPU) procurement contract value $66 million with a top-notch GPU inventor Nvidia. The announcement got here formally to affix the Nvidia Partner Network (NPN) cloud service supplier plan.
“Joining the planning of NPN plan this time is to ascertain a basis to maneuver Enterprise Cloud companies ahead with companies High-Performance Computing (HPC),” says Hive. Furthermore, the corporate stated changing into a partnership with NVIDIA can facilitate Hive to make use of its mature ecosystem, deep business experience, and good cooperation and customer support system to raised its computing infrastructure.
The announcement didn’t disclose the precise NVIDIA GPU mannequin and associated fashions.
Since Chinese authorities intensified crackdown actions in opposition to the Bitcoin (BTC) mining actions, GPUs have dropped in value, and the mining machines have depreciated by almost 75% since April, as reported earlier than.
The world’s prime bitcoin mining machine producer Bitmain Technology Co., Ltd. suspended the sale of mining machines worldwide in response to the Chinese authorities’s current crackdown on home mining targetting home miners.
Although China continues to tighten home cryptocurrency mining nationally, NVIDIA will ship knowledge center-grade GPUs to Hive month-to-month for the remaining months.
Frank Holmes, the CEO of Hive Blockchain, acknowledged that:
“Investment in Nvidia GPUs strengthens Hive’s capacity to stay nimble and offers us the facility to pivot on this ever altering and dynamic business.”
Hive Blockchain Technologies Ltd turned the primary cryptocurrency mining firm to undertake inexperienced power and ESG methods for most people since 2017. Hive just isn’t solely listed on the TSX.V change; Hive formally has began buying and selling beneath the tick of “HVBT” on the Nasdaq Capital Market Exchange.
Image supply: HIVE faceobook web page