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.
- 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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.