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Genesis Digital Assets Purchases Additional 10,000 Mining Machines From Canaan
The order is to be completed by the end of the month.
Genesis Digital Assets has purchased an additional 10,000 mining machines from manufacturer Canaan.
STORY CONTINUES BELOW
- The order for 10,000 A1246/A1166Pro machines is set to be completed by the end of this month, an announcement Wednesday said.
- It follows the signing of a partnership between the Nasdaq-listed manufacturer and Genesis Digital Assets for the purchase of Canaan's A1246 Avalon Miner machines valued at up to $93.6 million.
- Abdumalik Mirakhmedov, co-founder of Genesis Digital Assets, said he expects the purchase will help increase the firm's hash rate "by a minimum of twofold over the coming months."
- Earlier this month, China-based Canaan (NASDAQ:CAN) announced that it expected to book net revenue of between $150 million and $250 million in the second quarter.
Read more: Bitcoin Price, Foreign ASIC Demand Drive Profitable Q1 for Miner Producer Canaan
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
