Canaan to ship 11,760 next generation Bitcoin miners to US firm

Bitcoin Mining Rig

Bitcoin mining rig manufacturer Canaan has announced that it will be supplying 11,760 next generation A1246 ASIC AvalonMiner rigs to a company called Mawson Infrastructure Group.

The mining units will be dispersed among Mawson’s Bitcoin mining operations, and will add over an exahash of hashrate to its mining facilities. These latest AvalonMiner models get around 90 terahash per second performance, and around 38 joules per terahash.

Mawson recently rebranded and changed the company name from Wize Pharma, and this rebrand came after the company acquired Cosmos Capital Limited, a mining and crypto asset management business.

James Manning, the CEO of Mawson:

“At this exciting and pivotal time for us, working with proven leaders in the mining hardware industry will be crucial to expanding our bitcoin mining operations in 2021 and beyond. By partnering with Canaan, we leverage their long-standing manufacturing expertise and product excellence to power our rapidly growing mining infrastructure globally.”

Following the announcement, CAN shares listed on Nasdaq spiked 11%.

They are currently changing hands for $13.77, after trading around the $4.50 range per share in January. Since the beginning of 2021, Canaan shares have spiked 206%.

And the reason for that, according to Nangeng Zhang, the CEO and Chairman of Canaan, is the renewed interest in the potential of digital assets from institutional and retail investors alike in recent months.

While many mining businesses have struggled to accommodate the resulting demand, Canaan has been able to consistently deliver on its promise of supporting its global partners. As this latest win for the mining hardware provider based in China illustrates.


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