The Bitcoin Mining firm, Genesis Digital Assets’ recent partnership with Canaan Creative, China’s biggest mining rig manufacturer has caught miners’ attention. Genesis has announced the additional purchase of a hefty 20,000 units of Bitcoin ASIC miners from Canaan Creative. However, the model type and USD sum-up of the partnership has not been revealed yet. Canaan The post Genesis to Acquire Additional 20K Bitcoin...
The new venture is expected to increase revenue and "optimize" its product offering structure.
Canaan shares have gained 230% so far in February.
The company's director of finance will serve as acting CFO.
The company says a "majority" of the ASICs are already deployed.
Delivery of the new machines is set to start in May.
Mining companies are soaring as bitcoin hits record highs.
Mining hardware manufacturer Canaan Creative reported a Q3 net loss of $12.7 million, or 54 cents per share, more than quadruple the size of Q2's $2.38 million loss, or 10 cents per share.
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