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Beijing-based ASIC mining rig maker Canaan has announced the sale of 10,000 bitcoin mining machines to Genesis Digital Assets Limited. Canaan plans to deliver the 10,000 A1246 and A1166 Pro Avalonminers by the end of the month.
Canaan to Deliver 10,000 Bitcoin Miners to Genesis Digital Assets
The Canaan Company (Nasdaq: CAN) has made a lot of trade moves in 2021, as mining rig maker ASIC estimates it will make around $ 250 million in revenue by the end of the second quarter.
Most of the expected revenue is due to a number of mining rig orders placed in 2021 from various companies purchasing thousands of Avalon miners. On Wednesday, the company announced that Genesis Digital Assets has settled a purchase order for 10,000 A1246 and A1166 Pro Avalonminers.
According to Canaan, the mining rig’s shipment to Genesis Digital Assets will be fully delivered by June 30, 2021. The two companies have an existing relationship as Canaan sold next-gen bitcoin miners for $ 93 million. to the company at the end of April.
“We are delighted to continue our strategic partnership with Canaan to support these plans,” said co-founder and executive chairman Abdumalik Mirakhmedov of Genesis Digital Assets on Wednesday. Mirakhmedov added:
Our strategy has always been to grow faster than the rest of the market. Achieving this requires building and launching new data centers, expanding the capabilities of our existing facilities, and installing first-class hardware. Our recent Avalon Miner Purchase Orders from Canaan will help us increase our hash rate by at least twice over the next few months.
Genesis Digital Assets was launched in 2013 and claims to have mined “over US $ 1 billion worth of bitcoin” since then. “As of June 2021, Genesis Digital Assets’ data center capacity was over 140MW, resulting in a total hash rate greater than 2.1 PE / s, which is over 1.4% of the rate. total hash of the Bitcoin network, ”the company disclosure notes.
Canaan has revealed orders throughout the year with companies like Mawson Infrastructure Group and Hive Blockchain. Beijing-based mining rig maker ASIC also launched a new liquid-cooled submerged bitcoin miner called Avalonminer A1066I this year.
In recent times, since the crackdown on Bitcoin mining in China, Canaan has revealed that the company is developing an ASIC mining platform service in Kazakhstan. Other big producers of bitcoin mining rigs like Microbt and Bitmain have also seen thousands of rigs ordered this year.
What do you think of Canaan selling Genesis Digital Assets 10,000 bitcoin miners? Let us know what you think of this topic in the comments section below.
Tags in this story Abdumalik Mirakhmedov, ASIC miners, ASIC mining platforms, Avalonminers, Bitcoin, Bitcoin (BTC), Bitcoin mining, Canaan, genesis, Genesis Digital Assets, Mawson Infrastructure Group, mining platforms, Nangeng Zhang, SHA256
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