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Bitcoin Miner Hive Purchases Intel Mining Chips, Texas Firm Announces a 100 MW Deal

Hive Blockchain Technologies, a publicly traded mining company, announced that it had signed a deal to buy new ASIC mining chip from Intel on March 7. Hive also reached an agreement with an ODM (original design manufacturer) and signed a non-binding Letter of Intent with Compute North. Hive said the company plans to deploy 100 MW of mining capacity to Compute North’s renewable energy facilities in Texas.

Hive to Purchase ASIC Chips From Intel, Aims to Deploy 100 MW in Texas

The blockchain company and mining operation Hive (TSX.V: HIVE) (Nasdaq: HIVE) has revealed it has entered a supply agreement with Intel Corporation (Nasdaq: INTC). Hive will receive Intel’s ASIC mining chips, which will be used in custom-built equipment. The blockchain firm says it has a manufacturing agreement with an ODM that specializes in “electronics manufacturing.”

“Hive will use its engineering expertise in hardware implementation and will collaborate closely with Intel, the ODM partner, and on the system integration,” Hive’s announcement states. “These miners are expected to be delivered over a period of one year starting in the second half of calendar 2022, the effect of which, if they are all installed, would be an expected increase of up to 95% in our aggregate Bitcoin mining hashrate from 1.9 exahash per second.”

In addition to the deal with Intel, Hive detailed it closed another agreement with Compute North in order to deploy a 100 MW mining center in Texas. Frank Holmes, Hive’s executive chairman, said the Compute North team “shares the same commitment to using renewable energy that Hive has adhered to since its listing as the world’s first publicly traded crypto-miner.”

Mining Company Holds 2,374 Bitcoin, Hive Joins a Slew of Firms Acquiring Intel Chips

Hive says that further details about the 100 MW facility will be announced in the future. Last year, Hive purchased a great deal of mining rigs from Canaan and in mid-October it expanded its data center campus in New Brunswick, Canada, with 40 MW of capacity. The same month, Hive acquired another 6,500 mining rigs from Canaan. Hive holds a balance of 2,374 bitcoin (BTC) as of February 28, 2022, and the company produced 244.4 BTC last month.

Hive joins other companies like Argo Blockchain, Jack Dorsey’s Block, and Griid (formerly Square), which have plans to buy Intel’s ASIC chip. Intel revealed its new mining chips in mid-February and claimed the circuits will deliver 1,000x better performance than current competitors. Later, at the International Solid-State Circuits Conference (ISSCC) last month, Intel gave the event attendees a sneak peak at the ‘Bonanza Mine BMZ1’ blockchain accelerator mining chip and the ‘Bonanza Mine BMZ2’ as well.

What do you think about Hive’s plans to purchase Intel ASIC chips and the 100 MW facility in Texas with Compute North? Please comment below to let us know your thoughts on this topic.

Jamie Redman

Jamie Redman, the News Lead at Bitcoin.com News, is a Florida-based financial journalist. Redman has been an active member of the cryptocurrency community since 2011. Redman is passionate about Bitcoin, open-source codes, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage resulting from or in connection to the content, goods, or services discussed in this article.

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Bitcoin Price Watch: $85K Pivot Sets Stage for Weekend Fireworks

Bitcoin traded at $85,287 on Saturday, commanding a $1.69 trillion market capitalization while moving $10.68 billion across exchanges in 24 hours. During the session, the leading cryptocurrency by market cap roamed between $84,366 and $85,398, packing price tension into a narrow corridor that could ignite the next decisive break…
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MEXC launches STORY (IP) launchpool & airdrop+, offering 68,500 IP & 50,000 USDT in bonuses

MEXC, the world’s leading cryptocurrency trading platform, has announced the launch of its Launchpool initiative in collaboration with the renowned blockchain project STORY (IP). This initiative highlights the close partnership between MEXC and STORY, showcasing their joint efforts to expand the STORY network. By introducing two major events—a Launchpool featuring a 60,000 IP reward pool…


MEXC, the world’s leading cryptocurrency trading platform, has announced the launch of its Launchpool initiative in collaboration with the renowned blockchain project STORY (IP).

This initiative highlights the close partnership between MEXC and STORY, showcasing their joint efforts to expand the STORY network. By introducing two major events—a Launchpool featuring a 60,000 IP reward pool and an Airdrop+ offering 8,500 IP plus 50,000 USDT—this collaboration further accelerates the growth of the STORY network while driving innovation in the blockchain space.

MEXC Supports the STORY Network with the Launch of IP Launchpool

In the digital age, traditional intellectual property (IP) management faces growing challenges. Centralized platforms and complicated intermediaries often lead to inefficiencies, high costs, and trust issues for creators. As a Layer 1 blockchain built with Cosmos SDK, STORY combines DeFi and AI technologies to offer automated, transparent, and cost-effective IP management solutions. With full EVM compatibility and a modular architecture, STORY empowers creators to tokenize their IP assets, automate royalties, and simplify licensing processes. MEXC’s support of the STORY network highlights the growing importance of such innovations in blockchain. 

As a global leader in digital asset trading, MEXC consistently supports innovative blockchain projects. Its Launchpool initiative with STORY reaffirms this commitment. This collaboration not only strengthens the STORY ecosystem but also empowers global creators and developers to explore the potential of decentralized IP management. MEXC’s broad market coverage and strong liquidity offer the environment for blockchain projects like STORY to thrive and bring new possibilities to the digital economy. By allowing users to stake USDT, MX, and IP tokens to earn rewards, MEXC provides a platform for increased exposure and growth for STORY. Visit the STORY (IP) pre-market page to see this innovation in action.

Celebrate the IP Launchpool & Airdrop+ with a Prize Pool of 68,500 IP & 50,000 USDT

As a pioneer in the cryptocurrency industry, MEXC continues to foster innovation and support emerging blockchain ecosystems. MEXC is hosting two major STORY (IP) events: the Airdrop+ event, running from February 12, 2025, 10: 00 (UTC) to February 26, 2025, 10: 00 (UTC), featuring 8,500 IP plus 50,000 USDT in rewards, and the Launchpool, taking place from February 12, 2025, 10: 00 (UTC) to February 15, 2025, 10: 00 (UTC), with a 60,000 IP reward pool. These initiatives underscore MEXC’s ongoing commitment to advancing blockchain innovation and delivering valuable opportunities to the crypto community.

These activities include:

  • Event 1: IP Launchpool – Stake USDT, MX & IP to Share 60,000 IP
  • Event 2: Join Airdrop+ to Share 8,500 IP & 50,000 USDT bonus
    • Perk 1: Deposit and Share 5,600 IP (New User Exclusive).
    • Perk 2: Spot Challenge – Trade to Share 1,700 IP.
    • Perk 3: Futures Challenge – Trade to Share 50,000 USDT in Futures Bonuses.
    • Perk 4: Invite New Users and Share 1,200 IP.

MEXC continues to expand its market share in the centralized exchange space, leveraging its first-mover advantage in listing promising and valuable projects. As one of the leading cryptocurrency exchanges, with its commitment to innovation, user-centric approach, and strategic focus on early-stage token listings, MEXC remains at the forefront of the crypto industry, providing strong access to the rapidly growing blockchain ecosystem.

About MEXC

Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto”. Serving over 30 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, frequent airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

MEXC Official Website X TelegramHow to Sign Up on MEXC


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Jailed BTC-e operator Vinnik released in US-Russia prisoner swap

US to release jailed BTC-e operator Alexander Vinnik in a prisoner swap with Russia. Vinnik, arrested in 2017, is part of the exchange that saw Russia release jailed US schoolteacher Marc Fogel. Alexander Vinnik, jailed in the US after being convicted on charges of money laundering, is being released as part of a prisoner swap.…


  • US to release jailed BTC-e operator Alexander Vinnik in a prisoner swap with Russia.
  • Vinnik, arrested in 2017, is part of the exchange that saw Russia release jailed US schoolteacher Marc Fogel.

Alexander Vinnik, jailed in the US after being convicted on charges of money laundering, is being released as part of a prisoner swap.

The former operator of the Russian crypto exchange BTC-e will head to Russia after the Kremlin reportedly agreed to an exchange involving US national Marc Fogel.

According to the BBC, the White House confirmed the prisoner exchange,with Trump having spoken to Fogel.The schoolteacher left Russia on Tuesday, Feb. 11.

Who is Vinnik?

Alexander Vinnik, 44, is a crypto kingpin that operated the Bitcoin exchange BTC-e. Authorities arrested Vinnik in 2017 in Greece, with the Department of Justice filing charges of money laundering involving nearly $4 billion.

According to prosecutors, Vinnik allowed cyber criminals to use BTC-e to launder and store proceeds of crimes, including crypto hacks, ransomware attacks and identity theft.

The Russian national’s reign at the helm of the exchange saw him promote the platform to perpetrators of these crimes. US authorities blamed him for the loss of $121 million.

Notably, New Zealand police also seized $90 million from the BTC-e operator.

Vinnik’s guilty plea in May 2024 meant he faced up to 20 years in prison.

The prisoner swap that sees him leave custody comes after his lawyers failed in a previous attempt to have included in other US-Russia prisoner exchanges. One such push involved the deal that saw Evan Gershkovich, a Wall Street Journal reporter formerly imprisoned in Russia, released.


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