Tag: canaan

Jul 29 2022

Bitcoin ASIC Maker Canaan To Launch U.S. Mining Operations

A Canaan executive detailed the success of its pilot mining operations in Kazakhstan and shared plans to expand its operations to the U.S. in an interview.ASIC manufacturer Canaan is set to launch bitcoin mining operations in the U.S. The company recently started self-mining in Kazakhstan where it has deployed over 10,000 miners.Ending Q1 2022, the company earned $213 million in...

Apr 08 2022

Canaan Announces New ASIC Miner Along With Company Standards For Green Bitcoin Mining

ASIC manufacturer, Canaan, announced a brand new mining machine in addition to green mining standards about energy, mining and infrastructure.Canaan senior vice president, Edward Lu, shared the company’s plans to create green energy standards for Bitcoin mining on the mining stage at Bitcoin 2022. Lu gave a speech, titled “Clean Energy: The New Revolution of Bitcoin Mining." Lu said, “Sustainable Bitcoin...

Mar 01 2022

Once A Promised Land For Bitcoin Miners, Kazakhstan Is Shifting The Regulatory Crosswinds

Following a ban on Bitcoin mining in China, many operations fled to neighboring Kazakhstan. Now, changing regulations raise questions about their future.Bitcoin’s hash rate is hovering around all-time highs, but many miners are still struggling to recover from regulatory changes in regions that became major hubs for the industry.During the summer of...

Oct 29 2021

HIVE Orders 6,500 Bitcoin Mining Rigs From Canaan

This new order from by HIVE follows the two recent purchases of 4,000 and 6,400 Canaan's Avalon miners units in August and January.HIVE Blockchain ordered 6,500 bitcoin mining machines from Chinese maker Canaan.The purchase builds on the two firms' partnership which has sent the Canadian miner over 10,000 machines this year.HIVE expects to reach 2 EH/s BTC mining capacity by...

Sep 16 2021

Canaan’s Net Income Reaches $38 Million in Q2 2021

The company reported a substantial increase in net revenues and gross profit.

Aug 13 2021

Mawson Infrastructure Group Buys 17,352 Bitcoin Mining Rigs From Canaan

The Australian bitcoin mining infrastructure provider bought 17,352 Avalon A1166 and A1246 machines from rig maker Canaan.Mawson Infrastructure Group, a bitcoin mining infrastructure and management provider, has announced it purchased 17,352 ASIC bitcoin mining rigs from hardware maker Canaan. The successful deployment of all machines could increase Mawson's current hashrate capacity by 1,500 petahashes (PH)....

Jun 23 2021

Canaan To Begin Mining Bitcoin Itself, Setting Up Operations In Kazakhstan

Leading bitcoin mining rig manufacturer Canaan will start mining BTC itself and is setting up new operations in Kazakhstan.Bitcoin mining rig manufacturer Canaan, one of the largest mining hardware providers worldwide, has announced that it is making its first foray into mining bitcoin itself by setting up mining operations in Kazakhstan."We believe that our...

Jun 17 2021

Canaan Sells 10,000 Bitcoin Miners To Genesis Digital Assets

Jun 17 2021 Published at Bitcoinist.com under tags  asic miner bitcoin btc canaan eth

Bitcoin mining firm Genesis Digital Assets has purchased an additional 10,000 Bitcoin miners from the ASIC machine manufacturer Canaan. By the end of the month, Canaan plans to complete the order of 10,000 A1246 and A1166 Pro Avalonminers. The move isn't the first time the two companies have dealt with each other. Earlier this year, Genesis Digital Assets bought $93.6 million worth of...

Jun 16 2021

Genesis Digital Assets Buys 10,000 Bitcoin Mining Rigs From Canaan

Bitcoin mining firm Genesis Digital Assets has bought 10,000 bitcoin mining rigs from Canaan, advancing a partnership that started in April.Bitcoin miner manufacturer Canaan announced that it has secured a purchase order for 10,000 of its...

Jun 02 2021

Bitcoin Mining Rig Manufacturer Canaan Argues Against Chinese Crackdown

Major Chinese bitcoin mining rig manufacturer Canaan has argued against China 's recent regulatory crackdown on the industry.Representatives of major Chinese bitcoin mining rig maker Canaan Inc. have argued that the industry diminishes energy waste, helps create jobs and nourishes the local economy, as China has been recently cracking down on the practice."For-profit miners prefer regions with low...

Canaan Asks Chinese Authorities to Reconsider Clean Energy Bitcoin Mining Operations

China's biggest mining rig manufacturer Canaan has appealed to Chinese authorities to reconsider its indiscriminate ban on crypto mining activities in the country. Last month, China's State Council announced a ban on...

Apr 29 2021

Bitcoin Mining Firm Genesis Makes $93 Million Purchase Of Canaan ASICs

Bitcoin mining firm Genesis Digital Assets announced a $93 million partnership with Canaan to increase its capacity by 117 megawatts.According to a press release sent to Bitcoin Magazine, bitcoin miner manufacturer Canaan “announced a long-term strategic partnership with Genesis Digital Assets, an industrial- scale bitcoin mining firm.”Through the partnership, Genesis is set to receive $93.63...

Apr 21 2021

Apr 12 2021

Bitcoin Miner Manufacturer Canaan Expects Major Growth In 2021

Apr 12 2021 Published at Bitcoin Magazine under tags  business canaan

In a 2020 financial results release, bitcoin mining rig manufacturer Canaan laid out a case for major profit growth in 2021.Canaan, a Bitcoin mining equipment manufacturer, has released its unaudited 2020 financial results, including an estimate of $5.9 million in total net revenue for the fourth quarter of last year and total net revenue of $68.6...

BTC Miner Maker Canaan Ends 2020 with $68 Million in Revenue

The company is expecting at least $61 million in revenue for Q1 of 2021.

Jan 05 2021

Chinese Firm “The9” Files Agreement to SEC Disclosing Partnership with Crypto Mining Giants

The9, a US-listed internet, and mobile gaming firm based in Shanghai is all set to enter into the cryptocurrency mining industry and is looking to seek guidance from the best in the business. As per an...

Former Canaan Directors to Guide Chinese Gaming Firm’s Pivot to Crypto Mining

Jan 05 2021 Published at CoinDesk under tags  business canaan china coinflash crypto mining

Former directors of Canaan Inc. are investing in the Shanghai firm and will help launch its new mining subsidiary.

Dec 21 2020

Beyond Supply And Demand: Charting The Bitcoin Mining Industry’s Journey

Dec 21 2020 Published at Bitcoin Magazine under tags  asics canaan gpu mining

Last week, bitcoin finally surpassed its all-time price high, exceeding $23,000 for the first time, seeing year-to-date gains of over 180 percent. This was largely attributed to growing institutional interest, with established names such as Square, Galaxy Digital and...

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