Genesis Digital Assets Purchases Additional 10,000 Mining Machines From Canaan
The order is to be completed by the end of the month.
Jun 16, 2021 at 11:10 a.m. UTCUpdated May 9, 2023 at 3:20 a.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/7VNFRERHK5CCHCDEUE4GCQ4TCU.jpg)
Components used in bitcoin mining machines.
/arc-photo-coindesk/arc2-prod/public/LXF2COBSKBCNHNRE3WTK2BZ7GE.png)
Genesis Digital Assets has purchased an additional 10,000 mining machines from manufacturer Canaan.
- 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.
07:56
Why Bitcoin Miners Have Flocked to Texas
13:59
Sen. Tuberville on Bill to Block Chinese Ownership of American Crypto Companies
30:00
Neil Tan: Hong Kong’s Crypto Push
04:40
China's Top Prosecution Agency Says NFTs Have Crypto-Like Attributes
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)