Canaan Avalonminers

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Genesis Digital Assets Acquires 20,000 Bitcoin Mining Rigs From Canaan, Company Has Option to Buy 180K More

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The China-based bitcoin ASIC mining machine manufacturer Canaan has announced the company has forged a partnership with Genesis Digital Assets, and the two firms have now signed a deal for a large purchase order. Genesis will buy 20,000 bitcoin miners from Canaan and the mining operation also has the option to purchase an additional 180,000 … Read more

Canaan Expects $250M Revenue in Q2 — Yields and Mining Rig Deliveries to ‘Increase Substantially’

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The mining rig manufacturer Canaan saw steady profits during the Q1 after reporting its unaudited first quarter 2021 financial results on Tuesday. Canaan noted that it expects to at least sustain current profits or rise above to roughly $150 to $250 million in revenue for Q2. Canaan Expects $250M in Revenue for Q2 – Company … Read more