Canaan Inc. Partners with HIVE for Avalon A1566 Miners
Canaan Inc. Partners with HIVE for Avalon A1566 Miners
In a strategic move towards expanding its North American operations, Canaan Inc. has announced a significant agreement with HIVE Digital Technologies Ltd for the Avalon A1566 miners. This collaboration reflects the strong and lasting relationship between Canaan and HIVE, a notable player in the cryptocurrency mining sector.
Details of the Agreement
Canaan Inc. (NASDAQ: CAN), a prominent provider of high-performance computing solutions, disclosed that its subsidiary, Canaan Creative Global Pte. Ltd., has signed a purchase agreement to deliver 6,500 Avalon A1566 miners to HIVE. Each unit boasts an impressive computing power of 185 Terahash per second (TH/s). The initial delivery of 500 units has already taken place, with plans to ship the remaining 6,000 units across four monthly batches, commencing from December 2024 through March 2025.
Exceptional Performance and Customer Loyalty
Nangeng Zhang, the chairman and CEO of Canaan, expressed gratitude towards HIVE for selecting Canaan's mining solutions. He emphasized the value of long-term partnerships in this competitive industry. "Securing this order from HIVE, a pioneer in Bitcoin mining, is incredibly rewarding for us," Zhang stated, highlighting HIVE's effectiveness in maximizing its operations and production rates.
About the Avalon A1566 Miner
The Avalon A1566 represents the next generation of Canaan's 1xJ/T series miners. Offering enhanced reliability and power efficiency, the A1566 sets a new standard for mining performance. This evolution showcases Canaan's commitment to advancing technology through ongoing market research and product development, aiming to meet the growing demands of cryptocurrency mining.
About Canaan Inc.
Founded in 2013, Canaan Inc. (NASDAQ: CAN) specializes in the design and development of ASIC high-performance computing chips, along with the production of related hardware and software services. Canaan is recognized for its pioneering efforts in the blockchain technology sphere, being among the first to deliver ASIC-based mining equipment. The company made its mark in history with the release of the Avalon miners, setting the foundation for its future innovations within the industry.
Investor Relations
If you need further information regarding Canaan, please reach out through the contact information available. Canaan is dedicated to fostering transparent communication with its investors and stakeholders.
Frequently Asked Questions
What is the significance of Canaan's agreement with HIVE?
This agreement strengthens Canaan's market presence in North America and reflects its commitment to innovation in high-performance mining solutions.
How many miners are included in the agreement with HIVE?
The agreement includes a total of 6,500 Avalon A1566 miners, delivering cutting-edge technology to HIVE for their operations.
What are the specifications of the Avalon A1566 miners?
The Avalon A1566 miners provide an exceptional computing power of 185 Terahash per second (TH/s) and are designed for improved efficiency and reliability.
When will the full order for the Avalon A1566 miners be delivered?
The delivery of the remaining miners will occur in monthly shipments, starting from December 2024 until March 2025.
What is Canaan Inc.'s history?
Canaan Inc. was established in 2013 and has since become a leader in ASIC technology, significantly contributing to the evolution of cryptocurrency mining hardware.
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