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Hive Blockchain Orders Another 6,500 Bitcoin Mining Machines From Canaan
The order builds on the companies’ existing relationship that’s seen Hive already buy 10,400 machines this year.
Hive Blockchain Technologies ordered another 6,500 Avalon bitcoin mining machines from manufacturer Canaan (NASDAQ: CAN).
- The order comes after the Canadian company (NASDAQ: HIVE) bought 4,000 units in August and 6,400 in January.
- The latest purchase will push Hive’s bitcoin mining capacity to 2 exahash per second by December and 3 EH/s by March 2022, executive chairman Frank Holmes said in a statement. The company currently has about 1.2 EH/s.
- Canaan is a China-based manufacturer best known for its ASIC mining machines that, during boom times, have seen demand skyrocket as more mining businesses attempt to capitalize on bitcoin’s rising price.
Read more: ASIC Maker Canaan Diversifies Into Bitcoin Mining in Kazakhstan
STORY CONTINUES BELOW
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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.
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