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Genesis Digital Assets Purchases Additional 10,000 Mining Machines From Canaan
The order is to be completed by the end of the month.
Updated May 9, 2023, 3:20 a.m. Published Jun 16, 2021, 11:10 a.m.
Genesis Digital Assets has purchased an additional 10,000 mining machines from manufacturer Canaan.
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- 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.
Read more: Bitcoin Price, Foreign ASIC Demand Drive Profitable Q1 for Miner Producer Canaan
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