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 items 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 keeping with the announcement, the cargo of the 6,500 mining rigs manufactured by Canaan will probably be shipped in three tranches.
3,000 miners will probably 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 current instances, Hive introduced the corporate is establishing expansions to its largest knowledge 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 amenities in international locations like Iceland, Sweden, and Canada.
Frank Holmes, the chief 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 realize our objectives and drive worth for our shareholders, whereas executing on a transaction that will increase our money circulation and inexperienced mining capability,” Holmes stated in a press release. The mining operation’s chairman added:
Hive presently has roughly 1.2 exahash per second (EH/s) of bitcoin mining capability, and with this new buy, Hive’s bitcoin ASIC pipeline will probably 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 much more worthwhile to mine. BTC’s worth has given older era mining rigs new life and firms that mine crypto belongings are taking full benefit. Apart from Hive Blockchain various different companies have been inserting orders with ASIC manufacturing firms like Bitmain, Canaan, and Microbt for next-generation items.
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 items 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% right this moment, Hive’s shares, alternatively, are up 0.15%.
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