Hive Blockchain released a statement confirming that they were able to hit their target of 1 exahash per second (EX/s). In fact, on August 27, the company recorded a 24-hour delivery of 1845 Bitcoin miners.
Hive has a thriving ecosystem of over 126 apps, communities & projects. It is also home to some of the most-used Web3 apps globally, such as play-to-earn NFT Game Splinterlands, PeakD and HiveBlog.
More about The Hive Blockchain Exahash Milestone
This milestone is actually part of a long-term strategy, according to Frank Holmes, Executive Chairman of HIVE. He said in a statement, “This is a monumental achievement for us as we continue to our goal of over 3 EX/s by the end of fiscal 2022.” He also shared that this has not been an easy feat to achieve because “because of the global shortages in chips and logistics delays in shipping equipment from Asia due to Covid 19.”
Still, the company triumphed. So what will be the impact of this on HIVE?
This achievement will positively impact the HIVE Blockchain income statement to acheive better liquidity. Such funding is important to support the NFT projects that run on the blockchain. HIVE confirmed that the strong hash rate from both Bitcoin and Ethereum is resulting in a daily income of over $600,000. Thus, the annual rate would be around $220 Million less estimated annual expenses of $25 million.
As HIVE continues to ramp up expansion, the projections will also increase. Moreover, the blockchain is now better positioned to realize its vision of building a bridge between the blockchain sector and capital markets.
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