HIVE acquires 6,500 additional ASIC miners from Canaan

The Chinese mining equipment manufacturer Canaan Creative received an order from the Toronto Stock Exchange-listed HIVE Blockchain Technologies to supply 6,500 ASIC devices.

These are AvalonMiner devices of the latest generation.

“Currently, HIVE’s computing power is about 1.2 EH/s. Thanks to this deal, the performance of our device fleet by December 2021 will reach 2 EH/s, and by March 2022 — 3 EH/s,” said Frank Holmes, the mining company’s executive chairman of the board.

Earlier, Canaan received two orders from HIVE for equipment. In January the company purchased 6400 AvalonMiner 1246 miners with a total hashrate of 576 PH/s, with delivery by the end of 2021. In August — 4000 devices with a total hashrate of 272 PH/s.

In the same month HIVE ordered 1800 ASIC miners from Bitmain, with delivery in 2022.

HIVE posted net profit of $42.5 million for the fiscal year ended March 31, 2021.

Canaan’s revenue in the second quarter of 2021 amounted to $167.5 million. The figure was the largest in the company’s history.

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