• Hive Blockchain has placed another order for 6,500 Bitcoin mining machines from Canaan

  • Canaan, the manufacturer of Avalon bitcoin mining machines, has ordered another 6,500 units from Hive Blockchain Technologies (NASDAQ: CAN).

    The purchase comes after the Canadian firm (NASDAQ: HIVE) purchased 4,000 units in August and 6,400 units in January.According to executive chairman Frank Holmes, the latest acquisition will increase Hive’s bitcoin mining capacity to 2 exahash per second by December and 3 EH/s by March 2022. Currently, the company has about 1.2 EH/s. Canaan is a China-based manufacturer best known for its ASIC mining machines, which have seen demand skyrocket during boom times as more mining businesses try to capitalize on bitcoin’s rising price.

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