Felix Pinkston
Nov 01, 2024 15:49
Canaan Inc. has introduced a major cope with CleanSpark, supplying 3800 Avalon A1566I miners to bolster CleanSpark’s immersion mining operations, enhancing effectivity.
Canaan Inc. (NASDAQ: CAN), a outstanding supplier of high-performance computing options, has introduced a considerable order from CleanSpark Inc., a brand new shopper, for its Avalon A1566I miners. This partnership marks a major step for each corporations in advancing their capabilities within the Bitcoin mining sector, in response to PRNewswire.
Particulars of the Settlement
Below the acquisition settlement, Canaan U.S. Inc., a completely owned subsidiary of Canaan Inc., will ship 3800 Avalon A1566I Immersion Cooling Miners to CleanSpark. These miners, able to a mean compute energy of 249 terahash per second (TH/s) with out overclocking, are set for supply within the fourth quarter of 2024. This transfer is anticipated to reinforce CleanSpark’s immersion mining operations, recognized for his or her excessive effectivity and strategic website acquisitions.
Strategic Implications
The collaboration with CleanSpark underscores Canaan’s dedication to supporting the North American mining group and increasing its regional presence. “We’re thrilled that CleanSpark has chosen Canaan’s high-performance mining options,” stated Mr. Nangeng Zhang, Chairman and CEO of Canaan. He emphasised the potential of Canaan’s miners to combine seamlessly into CleanSpark’s vertically built-in system, showcasing the power of Canaan’s merchandise and their shared imaginative and prescient for the way forward for Bitcoin mining.
About Canaan Inc.
Based in 2013, Canaan Inc. is a expertise firm specializing in ASIC high-performance computing chip design, manufacturing of computing gear, and software program providers. Identified for its pioneering work in ASIC expertise, Canaan has been a major participant within the Bitcoin mining business because it shipped the primary batch of ASIC-based mining machines underneath the Avalon model. Canaan went public on the Nasdaq World Market in 2019, additional solidifying its stature within the tech business.
Broader Context
This settlement comes at a time when the Bitcoin mining business is witnessing important developments in expertise and effectivity. The mixing of immersion cooling expertise is changing into more and more well-liked because it gives enhanced efficiency and vitality effectivity. Because the business evolves, partnerships just like the one between Canaan and CleanSpark are essential for driving innovation and sustaining development.
Picture supply: Shutterstock
