Hive Blockchain Orders Another 6,500 Bitcoin Mining Machines From Canaan

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.

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Tanzeel Akhtar

Tanzeel Akhtar is a reporter based in London,UK.

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