In Brief:
- Canaan Inc. announced that it has received a purchase order of 20k BTC mining machines from Genesis Digital Assets.
- Genesis co-founder noted that the new batch of Bitcoin miners will help them expand further.
Canaan Inc., A computing solutions provider, announced that it has secured a purchase order for 20,000 Bitcoin miners from Genesis Digital Assets. In the collaboration with the Order, Canaan has also granted Genesis an option to purchase up to 180k additional mining machines.
Abdumalik Mirakhmedov, Co-founder and executive chairman, Genesis, noted that the new batch of Bitcoin miners will help the firm to further expand its mining operations in North America and the Nordics. He added that scaling up in these regions is the primary focus of the firm as the company is focused on energy from renewable sources.
“These new machines will dramatically increase our capacity as we work towards our goal to increase our capacity to 1.4 gigawatts by the end of 2023,” Mirakhmedov said.
According to the company’s website, Genesis’ data center had a capacity of over 143 megawatts as of July 2021, or a total hash rate of 2.6 exahashes (EH/s), which is more than 2.4% of the global Bitcoin mining hash rate.
Canaan CEO Nangeng Zhang pointed out that the company has secured several deals with Genesis after entering a long-term partnership in Q1 2021. This started with a $93 million Avalon miner deal. Since then, Genesis and Canaan have continued advancing their strategic partnership, signing a 10,000 Bitcoin miner sale in July.
“This order with an option of future large purchases further solidifies our collaborations and reflects both parties’ confidence in the prospect of the cryptocurrency mining industry,” Zhang added.
