Cryptocurrency miner Hive Blockchain has been working to replace the mining of Ether (ETH) with other coins in the event of Ethereum’s upcoming transition to proof-of-stake, or PoS.
The Canadian crypto mining firm has been analyzing options for mining with its GPU stash ahead of the Ethereum Merge, Hive said in its latest production update on Tuesday.
According to the update, Hive started implementing beta-testing of various GPU-mineable coins this week as the Ethereum Merge PoS is expected to occur in mid-September. Hive’s technical division is specifically implementing a strategy to optimize its Ethereum mining capacity, which amounts to 6.5 terahashes per second.
“The company acknowledges the potential Ethereum Merge to Proof of Stake,” Hive said in the update. It noted that it sees a competitive landscape where the GPU miners with the most efficient equipment and lowest cost of electricity will prevail.
Hive mentioned that its Sweden-based Boden facility is one of the largest...
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