Caroline Bishop
Nov 20, 2024 12:47
Canaan Inc. has secured a follow-on order from HIVE for five,000 Avalon A15-194T miners, enhancing their collaboration in Bitcoin mining operations.
Canaan Inc. (NASDAQ: CAN), a distinguished determine in high-performance computing options, has introduced a big follow-on order from HIVE Digital Applied sciences Ltd., in response to PR Newswire. The order includes 5,000 Avalon A15-194T miners, including to an earlier settlement from November involving 6,500 Avalon A1566 miners.
Strategic Enlargement in Bitcoin Mining
This newest growth solidifies the strategic alliance between Canaan and HIVE, an organization identified for its dedication to sustainable vitality practices throughout the cryptocurrency mining sector. The Avalon A15-194T miners, boasting a median computing energy of 194 Terahash per second (TH/s), are slated for supply within the first quarter of 2025. This batch of miners is anticipated to boost HIVE’s capabilities in Bitcoin mining, aligning with its objectives of integrating inexperienced vitality options and superior technological infrastructure.
Technological Developments and Market Impression
The introduction of the Avalon A1566 miners marks a big milestone in Canaan’s product growth efforts. This second-generation miner from the 1xJ/T sequence is designed for enhanced energy effectivity and reliability, reflecting Canaan’s dedication to ongoing market analysis and technological development. The corporate’s concentrate on ASIC high-performance computing chip design and manufacturing positions it as a pacesetter within the discipline, having pioneered the primary ASIC-based Bitcoin mining machines in 2013.
About Canaan Inc.
Based in 2013, Canaan Inc. has established itself as a key participant within the expertise sector, specializing in ASIC chip design and computing tools manufacturing. The corporate’s preliminary public providing on the Nasdaq World Market in 2019 marked a big milestone in its development trajectory. With a robust basis in chip design and manufacturing, Canaan continues to innovate and increase its choices within the high-performance computing area.
Nangeng Zhang, Chairman and CEO of Canaan, expressed gratitude in direction of HIVE for his or her continued partnership, emphasizing the shared imaginative and prescient of advancing ESG-focused initiatives and responding to the rising demand for AI computing capability. This collaboration is anticipated to set a brand new benchmark within the cryptocurrency mining business, fostering a versatile vitality infrastructure designed to evolve with technological developments.
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