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Canaan to Supply 11,760 Bitcoin Miners to Mawson’s Australian, US Operations
The Chinese bitcoin miner manufacturer will ship and install A1246 ASIC AvalonMiners for Mawson Infrastructure.
Nasdaq-listed Canaan Creative (Nasdaq:CAN) is supplying 11,760 bitcoin mining machines to U.S.-listed Mawson Infrastructure Group Inc. (WIZP:OTCQB), formerly known as Wize Pharma.
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- The Chinese bitcoin miner manufacturer said Wednesday it will be shipping and installing the A1246 ASIC AvalonMiners for Mawson Infrastructure throughout 2021, adding an additional 1.05EH to its global mining operations.
- Headquartered in Sydney, Mawson has mining operations across the United States and Australia.
- Canaan’s latest AvalonMiner model, the A1246, was launched in the third quarter of last year. Canaan said the SHA256 bitcoin mining rig produces a hashrate of 90TH/s with a power efficiency of 38J/TH.
- “Backed by our robust supply chain model, we are excited to be partnering with Mawson in their next phase of growth as they ramp up their mining activities,” said Nangeng Zhang, CEO of Canaan.
- In March, Canaan reported orders for its cryptocurrency mining machines were rising amid sky-high prices for bitcoin, with increased demand for its equipment from North America and Central Asia since late 2020.
- As reported by CoinDesk, bitcoin’s hashrate, which is a way to measure the total power consumption and mining output of the network, has topped new all-time highs as mining firms like Mawson Infrastructure continue to add more hash power.
Read more: DMG Purchases 3,600 ASICs in North American Bitcoin Mining Expansion
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
