THELOGICALINDIAN - The Chinabased bitcoin ASIC mining apparatus architect Canaan has appear the aggregation has artificial a affiliation with Genesis Digital Assets and the two firms accept now active a accord for a ample acquirement adjustment Genesis will buy 20240 bitcoin miners from Canaan and the mining operation additionally has the advantage to acquirement an added 180000 mining rigs from the Chinese ASIC architect
Canaan Sells Genesis 20K Miners, Genesis Can Buy 180K More
Bitcoin mining rig manufacturers accept fabricated actual ample sales during the additional bisected of 2020 and into 2021. For instance, in December 2020, Bitcoin.com News appear on Marathon’s record-breaking acquisition of 70,000 high-performance bitcoin miners from Bitmain for $170 million. That aforementioned month, Riot Blockchain bought 15,000 Antminers from Bitmain.
During the aboriginal anniversary of August 2021, Marathon purchased 30,000 miners from Bitmain. Canaan sold 11,760 next-generation A1246 ASIC Avalonminers to a aggregation alleged Mawson Infrastructure Group in April. At the end of that aforementioned month, Genesis Digital Assets purchased $93 actor account of ASICs from Canaan. In mid-June, Genesis revealed it bought 10,000 ASIC bitcoin miners from Canaan.
Now Genesis and Canaan accept appear the companies accept acclimatized on addition agreement. According to the advertisement on August 31, the mining operation Genesis has purchased 20,000 bitcoin mining machines from the China-based mining rig maker.
But the two companies are additionally attractive to achieve on the “largest mining apparatus accord to-date,” as Genesis now has the advantage to acquirement 180,000 ASIC miners from Canaan. The co-founder and controlling administrator of Genesis Digital Assets, Abdumalik Mirakhmedov, says the close hopes to access the accommodation a abundant accord by 2023.
“The Bitcoin mining machines from this latest acquirement adjustment are allotment of our on-going efforts to rapidly calibration our bitcoin mining operations in North America and the Nordics area we are focused on activity that comes from renewable sources,” Mirakhmedov said in a statement. “These new machines will badly access our accommodation as we assignment appear our ambition to access our accommodation to 1.4 gigawatts by the end of 2023.”
Canaan Shares Dip 74% Since Mid-March
Canaan is a publicly-listed firm, which has shares that barter on Nasdaq, and anniversary allotment on Tuesday is swapping for $9.24 per unit. However, Canaan (Nasdaq: CAN) shares accept absent 74.61% in amount back March 11, 2021, back a distinct CAN allotment exchanged easily for $36.40. Nangeng Zhang, the administrator and CEO of Canaan, says the aggregation charcoal “diligent in allowance miner clients” expand.
“Since we entered the abiding affiliation with Genesis Digital Assets beforehand this year, we accept accomplished several abundant deals,” Zhang said. “This adjustment with an advantage of approaching ample purchases added solidifies our collaborations and reflects both parties’ aplomb in the anticipation of the cryptocurrency mining industry,” the Canaan CEO added.
What do you anticipate about Canaan’s contempo accord with Genesis Digital Assets? Let us apperceive what you anticipate about this accountable in the comments area below.
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