On October 29, the openly noted company Canaan revealed the mining maker has actually protected a follow-on order from the mining operator Hive Blockchain for 6,500 systems of Canaan’s next-generation Avalon mining rigs. Hive anticipates to increase the operation’s hashrate from 1.2 exahash per 2nd (EH/s) to 3 EH/s by March 2022.
Hive Secures an Order for 6,500 Avalon Miners
This week the Nasdaq-noted Hive Blockchain (Nasdaq:HIVE) and Canaan (Nasdaq: CAN) revealed that Hive protected a follow-on order for 6,500 Avalon miners from Canaan. According to the statement, the delivery of the 6,500 mining rigs produced by Canaan will be delivered in 3 tranches.
3,000 miners will be provided in December 2021, 3,100 miners in January 2022, and an extra 400 Avalon miners by February 2022. Hive had actually currently gotten 10,400 miners from Canaan in January and August 2021.
In current times, Hive revealed the business is building growths to its biggest information center school in New Brunswick, Canada. Hive stated it intends to offer the New Brunswick website with 40 extra megawatts. The mining operation mines both bitcoin (BTC) and ethereum (ETH) and it runs an overall of 5 mining centers in nations like Iceland, Sweden, and Canada.
Frank Holmes, the executive chairman of Hive Blockchain stated the business is happy to boost its relationship with the crypto mining rig maker. “We are pleased to be building on our strategic alliances with leading ASIC manufacturer Canaan to achieve our goals and drive value for our shareholders, while executing on a transaction that increases our cash flow and green mining capacity,” Holmes stated in a declaration. The mining operation’s chairman included:
Hive presently has roughly 1.2 exahash per 2nd (EH/s) of bitcoin mining capability, and with this brand-new purchase, Hive’s bitcoin ASIC pipeline will be at 2 EH/s by December 2021, and 3 EH/s by March 2022.
Demand for Bitcoin Mining Rig Shipments Continues
During the last 2 months, both bitcoin’s (BTC) and ethereum’s (ETH) cost has actually made both crypto possessions much more successful to mine. BTC’s cost has actually provided older generation mining rigs brand-new life and business that mine crypto possessions are taking complete benefit. Besides Hive Blockchain a variety of other companies have actually been putting orders with ASIC production business like Bitmain, Canaan, and Microbt for next-generation systems.
At completion of August, Genesis Digital Assets gotten 20,000 bitcoin mining rigs from Canaan, and the business likewise has the alternative to purchase 180,000 more systems from Canaan moving forward. Canaan shares are exchanging hands for $8.72 on Friday while Hive Blockchain shares are switching for $3.85 per share. While Canaan’s shares are down 0.19% today, Hive’s shares, on the other hand, are up 0.15%.
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