On April 21, Bitcoin mining equipment manufacturer Canaan announced that it will provide 11,760 next-generation A1246 ASIC Avalonminers to a company called Mawson Infrastructure Group. The announcement stated that mining units will be dispersed in Mawson’s Bitcoin mining business and will add hashrate to Mawson’s mining facilities.
Canaan will provide Mawson Infrastructure Group with 10 billion kWh of Hashpower through 11,760 delivered machines
In the past few years, the Bitcoin mining industry has developed rapidly. In the past six months, corporate entities involved in the digital currency mining business have made a large number of purchases. Canaan (NASDAQ: CAN), a listed company headquartered in China, revealed that a large number of next-generation mining machines will be shipped to the US-listed Mawson Infrastructure Group (WIZP: OTCQB).
Mawson recently changed its name and changed the company name from Wize Pharma to Mawson Infrastructure Group. After the company acquired the mining and crypto asset management business Cosmos Capital Limited, it rebranded. The new name aims to “better reflect the company’s current and future operations.”
The company will get the latest Avalonminer model designed by Canaan, which is an ASIC SHA256 mining equipment called A1246. The speed of the next-generation model is approximately 90 teraheras per second (TH/s), which is approximately 38 joules per terahera (J/TH).
James Manning, CEO of Mawson, said in a statement: “At this exciting and crucial moment of ours, working with well-known leaders in the mining hardware industry is important Business is critical to 2021 and beyond.” Through cooperation with Canaan, we will use its long-term manufacturing expertise and superior products to power our rapidly growing global mining infrastructure. “
CAN stock price rose 11% after the announcement of next-generation miner shipments
After the announcement, the share price of CAN, which is listed on NASDAQ, soared by 11%, and the current share price is $13.77. After trading at approximately US$4.50 per share in January, Canaan’s share price has soared 206% since the beginning of 2021.
“In recent months, both institutional investors and retail investors have renewed their interest in the potential of digital assets,” Canaan CEO and Chairman Nangeng Zhang explained on Tuesday.
The administrator added:
Although many mining companies have been working hard to meet the resulting demand, Canaan has been able to consistently deliver on its commitment to support our global partners. With the support of our strong supply chain model, we are very happy to work with Mawson in the next phase of growth as they increase mining activities.
What do you think of Canaan providing 11,760 next-generation A1246 ASIC Avalonminers to Mawson? Let us know your thoughts on this topic in the comments section below.
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