Genesis Digital Assets to Buy Up to 200,000 Bitcoin Miners in Biggest Mining Sale Ever

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Canaan, a leading provider of supercomputing services and inventor of the first ASIC Bitcoin miner, has announced that it has been granted an option to sell 200,000 Bitcoin miners to Genesis Digital Assets. If executed, it would be the biggest Bitcoin mining machine sale ever.

Genesis Digital has already purchased over $ 93 million worth of mining machinery from Canaan. The renewed partnership agreement included the sale of 20,000 initial mining machines, which included the option to purchase an additional 180,000 machines.

Canaan President and CEO Mr. Nangeng Zhang said, “Since entering into a long-term partnership with Genesis Digital Assets earlier this year, we have achieved several good deals. This order with an option of large future purchases further strengthens our collaborations and reflects the confidence of both parties in the prospect of the cryptocurrency mining industry. All of these mutually beneficial offers demonstrate the quality of our products and our efforts to deliver to customers, despite the difficult overall state of the supply chain. We remain diligent in helping minor clients expand their computing power while generating value for our shareholders. “

Genesis Digital Assets Co-Founder and Executive Chairman Abdumalik Mirakhmedov said, “The bitcoin mining machines in this latest PO are part of our continued efforts to rapidly expand our bitcoin mining operations in America. in the North and in the Nordic countries where we are. focused on energy from renewable sources. These new machines will significantly increase our capacity as we strive to meet our goal of increasing our capacity to 1.4 gigawatts by the end of 2023. ”

Genesis Digital Assets is already one of the largest Bitcoin mining companies in the world. They have brought more than 300,000 miners online since 2013. As of August, the company’s data center had a mining capacity of over 170 megawatts, for a total hash of over 3.1 EH / s, or more than 2.4% of the global Bitcoin mining hash. .

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