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Hive Blockchain Technologies<\/strong> (NASDAQ:HIVE<\/a>), a company that mines Bitcoin<\/strong> (CRYPTO: BTC<\/a>), Ethereum<\/strong> (CRYPTO: ETH<\/a>) and other cryptocurrencies, said on Monday it would buy\u00a0Intel Corporation’s<\/strong> (NASDAQ:INTC<\/a>) high-performance chips.\u00a0<\/p>\n What Happened:<\/strong> Vancouver, Canada-based Hive said it\u00a0entered into a supply agreement revolving around Application-Specific Integrated Circuit (ASIC) chips with Intel. The company has also forged a manufacturing agreement that comes attached with an original design manufacturer (ODM).<\/p>\n With the deal, Hive said it expects to raise its aggregate BTC mining hashrate by up to 95% from\u00a01.9 exahashes per second (EH\/s).<\/p>\n \u201cIntel’s energy-efficient and high performance blockchain<\/a> accelerator is expected to reduce our power consumption over current ASIC miners on the market,\u201d said Hive President and COO\u00a0Aydin Kilic.<\/strong><\/p>\n See Also: <\/em>How To Buy Intel (INTC) Shares<\/em><\/a><\/p>\n Why It Matters: <\/strong>Hive says it expects miners to be delivered over\u00a0one year beginning in the second half of 2022.<\/p>\n \u201cHIVE’s engineering team will draw on its expertise in hardware and software implementation and will work closely with Intel and the ODM partner on the systems integration,\u201d the company said.<\/p>\n In January, Hive announced it had purchased 6,400 Avalon next-generation miners from Canaan Inc<\/strong> (NASDAQ:CAN<\/a>).\u00a0<\/p>\n Last month, Intel said that Jack Dorsey<\/strong>-led Block Inc<\/strong> (NYSE:SQ<\/a>) was one of the first customers<\/a> for its \u201cultra-low voltage\u201d \u201cBonanza mine\u201d product.\u00a0<\/p>\n Price Action: <\/strong>On Monday, Hive shares closed 7.3% lower at $1.65 in the regular session, and rose 0.6% in the after-hours trading. On the same day, Intel shares closed 0.8% lower at $47.68 in the regular session.<\/p>\n Read Next: <\/em>Intel’s Energy-Efficient Bitcoin Miner Lags Behind Competitors Hashing Power: Report<\/em><\/a><\/p>\n<\/p><\/div>\n