- Hive Blockchain purchased for 6,500 Avalon bitcoin mining equipment with Canaan.
- The purchase will push Hive’s bitcoin mining capacity to 2 EH/s by December.
The leading computing solutions provider, Canaan, announced that it secured a follow-on purchase order from HIVE Blockchain Technologies for 6,500 units of its next-generation Avalon Bitcoin mining equipment.
The deal follows the purchase of 4,000 units in August and 6,400 in January by HIVE Technologies.
Chairman and Chief Executive Officer of Canaan, Nangeng Zhang, added, “The additional purchase order from HIVE further strengthens our working relationship. The consecutive deals are not only a testament to the quality and performance of our mining machines, but also demonstrate our effective client relationship-building efforts.”
Hive’s bitcoin mining capacity will increase to 2 EH/s by December and 3 EH/s by March 2022 due to the latest buy. The firm right now has 1.2 EH/s mining capacity.
Executive Chairman of HIVE, Frank Holmes, stated that “We are pleased to be building on our strategic alliances with Canaan, a leading ASIC manufacturer, to achieve our goals and drive value for our shareholders, while executing on a transaction that increases our cash flow and green mining capacity.”