HashHive Launches ICO for Cloud Mining in CIS Countries

HashHive uses technologies, which cut cost of hash-power and cooperates with companies for the supply of equipment for immersion and generation of electricity
16 November 2017   1128

During the ICO period the HashHive project plans to attract investments up to 30 million dollars, selling the project token – CELL, is the equivalent of hash-power. Total amount of issued tokens – 2 167 000, from which:

  • 90% Tokens sold during ICO
  • 8% Company Reserve
  • 2% Bounty

Token sale will take place from November 20 to December 19 in 2017. After completion of ICO, HashHive will purchase the site area and equipment to organize the data center. The launch of the Data Center is planned in the second quarter of 2018, and at this time, the first payments to investors will begin according to the marketing plan. According to the ROI of the project from the Whitepaper in the case of receiving planned $30 million within the ICO, HashHive will reach project capacity in 5 months.

The HashHive project is distinguished by the use of innovative technologies of cloud mining. It is planned to use immersion cooling system for mining servers, allowing them to consume less energy. This will be possible due to removal server fans and lower component temperatures.

As a part of the HashHive project, it is planned to install a gas piston engine, which is characterized by high efficiency and fuel flexibility, as a source of primary and backup power. The advantage of this technology in its high efficiency and fuel flexibility.

In future, with funds received from cloud mining, HashHive plans to create a network of data centers located in Russia and CIS countries. These centers will specialize not only in cloud mining, but also on other tasks.

 

Bear Market to Hit Mining Hard

BitMEX research division presented an analysis of the impact of market decline on the mining industry
11 December 2018   75

The cryptocurrency market has experienced a marked decline over the past weeks. The BitMEX research division presented an analysis of the impact of these events on the mining industry. Bitcoin hash rate has fallen by 31% since the beginning of November, which is equivalent to the capacity of 1.3 million Bitmain S9 devices. From this, BitMEX concludes that miners as a class are in a difficult situation, however, they may have different conditions, and those who pay more for electricity, are forced to turn off their equipment first, while others may still be quite viable.

The decrease in the price of Bitcoin by 45% since the beginning of November has already caused two recalculations of the complexity of mining to the lower side - by 7.4% and 15.1% on November 16 and December 3, respectively. The first recalculation turned out to be the largest since January 2013, the second - since October 2011.

Bitcoin mining revenue fell from $ 13 million per day in early November to $ 6 million per day in early December. The fall in the size of the miner's encouragement turned out to be even more rapid than the fall in the price of cryptocurrency. This is due to the delay in recalculating the complexity of mining. For the six-day period ending December 3, 21.8% fewer blocks were mined than expected, since the miners left the network before recalculating the difficulty. As a result, in addition to reducing the size of the miners' encouragement in dollar terms, due to lower asset prices, they received 21.8% less bitcoin awards.

One of the popular reasons for the recent decline in the cryptocurrency market is that miners sold bitcoins to cover their costs of hash warsin the Bitcoin Cash network. The monitoring platform Boltzmann recorded an unusually large sale of Bitcoin by the miner on November 12, that is, 3 days before the hard fork of Bitcoin Cash.

BitMEX assumes that the actions of miners over the past weeks could have played a significant role in reducing the market, however, recommends not overestimating their value and reminds that in a bearish trend, prices continue to fall regardless of asset movements and news.