Canaan to Ship 11,760 Next-Generation Bitcoin Miners to a US-Listed Firm, CAN Shares Jump 11% – Mining Bitcoin News
Bitumen drill manufacturer Canaan announced on 21. April has announced that it will supply 11,760 next-generation Avalonminers (A1246 ASIC) to Mawson Infrastructure Group. The announcement states that the mining units will be distributed among Mawson’s bitcoin mining units and add more Hashrat Exahash to Mawson’s mining operation.
Canaan provides Mawson Infrastructure Group with 1 exahash of electricity through 11,760 deliveredvehicles.
Bitcoin mining has been booming in recent years, and the past six months have seen massive purchases from mining companies for digital currency. Chinese listed company Canaan (Nasdaq:CAN) has announced that it is supplying a large batch of next-generation miners to US-based Mawson Infrastructure Group (WIZP:OTCQB).
Mawson recently changed its name from Wize Pharma to Mawson Infrastructure Group. The name change follows the company’s acquisition of Cosmos Capital Limited, a mining and crypto asset management company. The new name is intended to better reflect the company’s current and future activities.
The company will receive the latest Canaan-developed Avalonminer model, a SHA256 mining ASIC called A1246. The new generation model achieves about 90 terabats per second (TH/s) and about 38 joules per terabat (J/TH).
At this exciting and crucial time for us, partnering with proven leaders in the mining industry is critical to growing our bitcoin mining business in 2021 and beyond, James Manning, CEO of Mawson, said in the announcement. By partnering with Canaan, we are leveraging their years of manufacturing experience and excellent product quality to build our growing mining infrastructure around the world, he added.
shares make 11% jump after announcement of delivery of new generationmine
Following the announcement, CAN’s Nasdaq-listed shares made an 11% jump and the stock is currently trading at $13.77. After trading at $4.50 a share in January, Canaan shares are up 206% since the start of 2021.
In recent months, institutional and retail investors have shown renewed interest in the potential of digital assets, Nangen Zhang, CEO and president of Canaan, said Tuesday.
The Executive Director added:
While many mining companies struggle to meet emerging demand, Canaan has consistently delivered on its promise to support its global partners. Building on our robust supply chain model, we look forward to working with Mawson in its next phase of growth as it expands its mining operations.
What do you think of Canaan’s delivery of the next generation Avalonminer with the Mawson 11 760 ASIC A1246? Let us know what you think in the comments below.