Genesis Digital Assets Purchases 10,000 Bitcoin Miners from Canaan

The Beijing-based ASIC mining rig producer Canaan introduced the sale of 10,000 bitcoin mining machines to the agency Genesis Digital Assets Limited. Canaan plans to ship the 10,000 A1246 and A1166 Pro Avalonminers by the top of the month.

Canaan to Deliver 10,000 Bitcoin Miners to Genesis Digital Assets

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

The bigger share of anticipated income is because of plenty of mining rig orders positioned in 2021 from a wide range of firms buying hundreds of Avalonminers. On Wednesday, the agency introduced that Genesis Digital Assets had settled a purchase order order for 10,000 A1246 and A1166 Pro Avalonminers.

According to Canaan, the mining rig cargo to Genesis Digital Assets will probably be delivered in full by June 30, 2021. Both firms have an present relationship as Canaan offered $93 million value of next-generation bitcoin miners to the corporate on the finish of April.

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

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

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Genesis Digital Assets was launched in 2013 and claims to have mined “over US$1 billion in bitcoin” since then. “As of June 2021, Genesis Digital Assets’ 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 whole Bitcoin community hashrate,” the corporate’s disclosure notes.

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

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

What do you concentrate on Canaan promoting Genesis Digital Assets 10,000 bitcoin miners? Let us know what you concentrate on this topic within the comments part below.

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