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HIVE acquires 6,400 ASIC miners from Canaan


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Toronto Stock Exchange-listed HIVE Blockchain Technologies has acquired 6,400 Avalonminer 1246 miners. It is acquiring it from Chinese manufacturer Canaan Creative for delivery by the end of 2021.

The company plans to deliver 500 units in May and June. The rest of the order must arrive in monthly installments of 900 units from July.

HIVE expects the company’s hashrate to reach 1.23 EH / s.

The Chinese manufacturer introduced the Avalonminer 1246 in September 2020. The energy efficiency of the new model is 38 J / TH. In this indicator, Canaan was able to approach the flagship models of technological leaders – Bitmain and MicroBT.

The AvalonMiner 1146 Pro and AvalonMiner 1166 Pro, which launched in June, are around 40% less efficient than their competitors.

In November, HIVE acquires installed 1,240 Whatsminer M30S units from MicroBT. This allows the company to double its Bitcoin mining capacity.

In a statement, HIVE said it would continue to invest in next-generation mining equipment.

Recall that the rise in the price of the second largest cryptocurrency in terms of capitalization enabled HIVE to make profits in the second quarter of fiscal 2021.

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