On April 21, the bitcoin mining rig manufacturer Canaan announced the firm will be supplying 11,760 next-generation A1246 ASIC Avalonminers to a company called Mawson Infrastructure Group. The announcement notes that the mining units will be dispersed among Mawsonâ€™s bitcoin mining operations, and will add over an exahash of hashrate to Mawsonâ€™s mining facilities.
Canaan to Supply Mawson Infrastructure Group With 1 Exahash of Hashpower via 11,760 Delivered Machines
Bitcoin mining has grown massive during the last few years and during the last six months, massive purchases have been made by corporate entities involved in digital currency mining operations. The publicly listed firm Canaan (Nasdaq: CAN) based in China has revealed a large shipment of next-generation miners will be shipped to the U.S.-listed Mawson Infrastructure Group (WIZP:OTCQB).
Mawson recently rebranded and changed the companyâ€™s name from Wize Pharma to Mawson Infrastructure Group. The rebrand came after the company acquired Cosmos Capital Limited, a mining and crypto asset management business. The new name aims to â€œbetter reflect the companyâ€™s existing and future operations.â€
The company will be getting the latest Avalonminer model designed by Canaan, an ASIC SHA256 mining rig called the A1246. The next-generation model gets around 90 terahash per second (TH/s) and around 38 joules per terahash (J/TH).
â€œAt this exciting and pivotal time for us, working with proven leaders in the mining hardware industry will be crucial to expanding our bitcoin mining operations in 2021 and beyond,â€ James Manning, the CEO of Mawson said during the announcement. By partnering with Canaan, we leverage their long-standing manufacturing expertise and product excellence to power our rapidly growing mining infrastructure globally,â€ the executive added.
CAN Shares Jump 11% Following the Next-Gen Miner Shipment Announcement
Following the announcement, shares of CAN listed on Nasdaq spiked 11% and currently shares are exchanging hands for $13.77. After trading around the $4.50 range per share in January, Canaan shares have spiked 206% since the beginning of 2021.
â€œIn recent months, institutional and retail investors alike have expressed renewed interest in the potential of digital assets,â€ Nangeng Zhang, the CEO and Chairman of Canaan explained on Tuesday.
The executive added:
What do you think about Canaan supplying Mawson with 11,760 next-generation A1246 ASIC Avalonminers? Let us know what you think about this subject in the comments section below.