Publicly traded crypto mining firm Hive Blockchain Technology has reportedly inked an agreement to purchase ASIC chips from semiconductor manufacturer Intel for its new custom mining equipment.

Specifically, Hive reportedly made arrangements for the new devices to be created by a third-party custom design manufacturer, which looks to finalize the integration of the Intel chips into new air-cooled Bitcoin (BTC) mining devices.

Hive reportedly shared its expectations that the new devices will help it achieve a two-fold increase in its aggregate Bitcoin mining hash rate from 1.9 to 3.8 exahashes per second (Eh/s). 

They will reportedly be rolled out for immediate use in the latter half of this year. 

Intel further included in the patent for the chips dubbed Bonanza Mine that they would help bring down the power required for operating the mining work by 15%. 

This decrease in power usage could potentially make it possible for Hive to make use of more devices, consequently helping it increase its hash rate contribution even more.

Aydin Kilic, president and chief operating officer of Hive, additionally remarked that the new devices would play a crucial part in the future development of the firm as well as its hash rate contributions to the network. 

Per Kilic, the firm reportedly works towards a commitment of “implementing these next-generation blockchain accelerators in its green energy infrastructure.”

“Intel’s commitment to challenging the status quo and commitment to energy-efficient products align very well with our ESG and clean energy commitment.”