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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 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 a further 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 setting up expansions to its largest knowledge middle campus in New Brunswick, Canada. Hive stated it goals to offer the New Brunswick website with 40 extra megawatts. The mining operation mines each bitcoin (BTC) and ethereum (ETH) and it operates a complete of 5 mining services in international locations 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 realize our targets and drive worth for our shareholders, whereas executing on a transaction that will increase our money stream 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 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 last two months, each bitcoin’s (BTC) and ethereum’s (ETH) value has made each crypto property much more worthwhile to mine. BTC’s value has given older technology mining rigs new life and corporations that mine crypto property are taking full benefit. Moreover Hive Blockchain a lot of different corporations have been inserting orders with ASIC manufacturing firms like Bitmain, Canaan, and Microbt for next-generation items.
On the finish of August, Genesis Digital Belongings 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 fingers 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, however, are up 0.15%.
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Tags on this story
3 Exahash, 5 Information Facilities, ASIC rigs, Bitcoin, Bitcoin (BTC), Bitcoin Miners, Bitcoin mining, BTC Mining, BTC Mining Rigs, Can, Canaan, Canada, Frank Holmes, Hive Blockchain, mining, mining rigs, New Brunswick
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