On October 29, the publicly listed agency Canaan introduced the mining producer has secured a follow-on buy order from the mining operator Hive Blockchain for six,500 models of Canaan’s next-generation Avalon mining rigs. Hive expects to extend the operation’s hashrate from 1.2 exahash per second (EH/s) to three EH/s by March 2022.
Hive Secures an Order for six,500 Avalon Miners
This week the Nasdaq-listed Hive Blockchain (Nasdaq:HIVE) and Canaan (Nasdaq: CAN) introduced that Hive secured a follow-on buy order for six,500 Avalon miners from Canaan. In accordance with the announcement, the cargo of the 6,500 mining rigs manufactured by Canaan will likely be shipped in three tranches.
3,000 miners will likely be delivered in December 2021, 3,100 miners in January 2022, and an extra 400 Avalon miners by February 2022. Hive had already acquired 10,400 miners from Canaan in January and August 2021.
In latest instances, Hive introduced the corporate is developing expansions to its largest information middle campus in New Brunswick, Canada. Hive stated it goals to supply the New Brunswick website with 40 further megawatts. The mining operation mines each bitcoin (BTC) and ethereum (ETH) and it operates a complete of 5 mining services in nations like Iceland, Sweden, and Canada.
Frank Holmes, the manager chairman of Hive Blockchain stated the corporate is happy to bolster its relationship with the crypto mining rig producer. “We’re happy to be constructing on our strategic alliances with main ASIC producer Canaan to attain our objectives and drive worth for our shareholders, whereas executing on a transaction that will increase our money circulate and inexperienced mining capability,” Holmes stated in an announcement. The mining operation’s chairman added:
Hive at present has roughly 1.2 exahash per second (EH/s) of bitcoin mining capability, and with this new buy, Hive’s bitcoin ASIC pipeline will likely be at 2 EH/s by December 2021, and three EH/s by March 2022.
Demand for Bitcoin Mining Rig Shipments Continues
Over the past two months, each bitcoin’s (BTC) and ethereum’s (ETH) worth has made each crypto belongings way more worthwhile to mine. BTC’s worth has given older technology mining rigs new life and corporations that mine crypto belongings are taking full benefit. Moreover Hive Blockchain a lot of different corporations have been putting orders with ASIC manufacturing corporations like Bitmain, Canaan, and Microbt for next-generation models.
On the finish of August, Genesis Digital Property acquired 20,000 bitcoin mining rigs from Canaan, and the corporate additionally has the choice to purchase 180,000 extra models from Canaan going ahead. Canaan shares are exchanging arms for $8.72 on Friday whereas Hive Blockchain shares are swapping for $3.85 per share. Whereas Canaan’s shares are down 0.19% in the present day, Hive’s shares, alternatively, are up 0.15%.
What do you concentrate on Hive buying 6,500 miners from Canaan? Tell us what you concentrate on this topic within the feedback part beneath.
Picture Credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This text is for informational functions solely. It isn’t a direct supply or solicitation of a suggestion to purchase or promote, or a suggestion or endorsement of any merchandise, companies, or corporations. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, immediately or not directly, for any harm or loss brought on or alleged to be attributable to or in reference to using or reliance on any content material, items or companies talked about on this article.