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Bitcoin mining firm Genesis Digital Assets has confirmed an order for 10,000 Bitcoin miners by a business based in Beijing, China.
Canaan, a Beijing-established Bitcoin ASIC miner maker, announced the sale of 10,000 Bitcoin rigs to Genesis Digital Assets Limited. Canaan intends to deliver 10,000 A1246 and A1166 Pro Avalonminers at the end of June 2021.
Exporting Bitcoin Miners When China Bans Miners
The Canaan Company has made many moves to boost its business in the first half of 2021, despite government regulatory hurdles. ASIC mining rig manufacturers think that by the end of the second quarter of the year they’ll have revenue of about $250 million.
The anticipated turnover ratio may be even greater than that as there were a few very big Bitcoin rig orders signed in the first half of the year with several companies internationally ordering up to tens of thousands of units. .
The mining rigs are known as Avalonminers with many diverse versions. On June 16, the company announced that Genesis Digital Assets had cleared an order for 10,000 A1246 and A1166 Pro Avalonminers.
According to Canaan, the dispatch of Bitcoin mining rigs offered to Genesis Digital Assets will be sent in full on June 30. In reality, this isn’t the first time that the two companies have cooperated because at the end of April, Canaan also handed over a batch of bitcoin rigs worth around $93 million.
“We are delighted to continue our strategic partnership with Canaan to support these plans,” stated Abdumalik Mirakhmedov, co-founder and chief executive officer of Genesis Digital Assets. After the shipment order information is made public.
Mirakhmedov added:”Our strategy has always been to grow faster than the rest of the marketplace (Bitcoin mining). To achieve this, we’ll need to construct and launch new data centers, expand the capacity of existing facilities, and set up the most effective hardware.
Our recent orders with provider Canaan will help Genesis Digital Assets raise its hash speed by at least twofold in the coming months.”
Genesis Digital Assets is a big company launched in 2013, claiming to have mined “more than $1 billion in bitcoin” since then.
“As of June 2021, Genesis Digital Assets data center capacity is over 140MW, translating to a total hash rate in excess of 2.1 EH/s, which is 1.4% higher than the overall network hash rate. Bitcoin,” the company revealed.
For its part, Canaan also said it has received plenty of orders this season with firms like Mawson Infrastructure Group and Hive Blockchain. Beijing-based ASIC bitcoin rig manufacturer also launched a Bitcoin miner that’s believed to be more energy efficient and more environmentally friendly than mature “bitcoin miners” this season, naming it Avalonminer. A1066I.
In recent times, since China formally banned Bitcoin miners and Bitcoin trades, Canaan has turned into growing ASIC mining rig solutions in Kazakhstan. Other top bitcoin mining rig manufacturers such as Microbt and Bitmain have announced the sale of thousands of rigs this year.
Even during a period when the Bitcoin price reached an all-time large, there were constantly mixed opinions about this digital asset. Many pros and large investors such as Elon Musk also criticized bitcoin mining for too much electricity and bad influence on the environment. Musk’s company Tesla even retracted its statement that it accepts electrical car obligations in bitcoin.
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According to Vietnambiz
Compiled by ToiYeuBitcoin
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