Hive Blockchain Secures Order for 6500 Next-Generation Bitcoin Miners From Canaan

On October 29, the publicly listed firm Canaan announced the mining manufacturer has secured a follow-on purchase order from the mining operator Hive Blockchain for 6,500 units of Canaan’s next-generation Avalon mining rigs.

This week the Nasdaq-listed Hive Blockchain announced that Hive secured a follow-on purchase order for 6,500 Avalon miners from Canaan.

3,000 miners will be delivered in December 2021, 3,100 miners in January 2022, and an additional 400 Avalon miners by February 2022.

The mining operation mines both bitcoin and it operates a total of five mining facilities in countries like Iceland, Sweden, and Canada.

Frank Holmes, the executive chairman of Hive Blockchain said the company is pleased to bolster its relationship with the crypto mining rig manufacturer.

Besides Hive Blockchain a number of other firms have been placing orders with ASIC manufacturing companies like Bitmain, Canaan, and Microbt for next-generation units.

At the end of August, Genesis Digital Assets acquired 20,000 bitcoin mining rigs from Canaan, and the company also has the option to buy 180,000 more units from Canaan going forward.

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The price of bitcoin in October has shown signs of a double-bubble similar to the bull run in 2013, and speculators have been trying to guess the leading crypto asset’s top.

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