Genesis Digital Belongings Purchases 10,000 Bitcoin Miners from Canaan – Mining Bitcoin Information

The Beijing-based ASIC mining rig producer Canaan introduced the sale of 10,000 bitcoin mining machines to the agency Genesis Digital Belongings Restricted. Canaan plans to ship the 10,000 A1246 and A1166 Professional Avalonminers by the tip of the month.

Canaan to Ship 10,000 Bitcoin Miners to Genesis Digital Belongings

The corporate Canaan (Nasdaq: CAN) has been making a lot of enterprise strikes in 2021, because the ASIC mining rig producer believes it is going to see round $250 million in revenue on the finish of the second quarter.

The bigger share of anticipated income is because of various mining rig orders positioned in 2021 from a wide range of corporations buying 1000’s of Avalonminers. On Wednesday, the agency introduced that Genesis Digital Belongings had settled a purchase order order for 10,000 A1246 and A1166 Professional Avalonminers.

In response to Canaan, the mining rig cargo to Genesis Digital Belongings will likely be delivered in full by June 30, 2021. Each corporations have an present relationship as Canaan sold $93 million value of next-generation bitcoin miners to the corporate on the finish of April.

“We’re excited to proceed our strategic partnership with Canaan to help these plans,” the cofounder and government chairman Abdumalik Mirakhmedov of Genesis Digital Belongings, commented on Wednesday. Mirakhmedov additional added:

Our technique has all the time been to develop quicker than the remainder of the market. Attaining this requires constructing and launching new knowledge facilities, increasing the capacities of our present amenities, and putting in first-class {hardware}. Our latest buy orders for Canaan’s Avalon Miners will assist us to extend our hash charge by a minimal of twofold over the upcoming months.

Genesis Digital Belongings was launched in 2013 and claims to have mined “over US$1 billion in bitcoin” since then. “As of June 2021, Genesis Digital Belongings’ knowledge heart capability was greater than 140MW, translating into a complete hashrate in extra of two.1 EH/s, which is greater than 1.4% of the full Bitcoin community hashrate,” the corporate’s disclosure notes.

Canaan has been revealing orders all 12 months lengthy with corporations like Mawson Infrastructure Group and Hive Blockchain. The Beijing-based ASIC mining rig producer additionally launched a brand new submerged liquid-cooled bitcoin miner this 12 months known as the Avalonminer A1066I.

In latest instances, for the reason that bitcoin mining crackdown in China, Canaan disclosed that the corporate was growing an ASIC mining rig service in Kazakhstan. Different prime bitcoin mining rig producers like Microbt and Bitmain have been seeing 1000’s of rigs being ordered as effectively this 12 months.

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