Benzinga | Aug 3, 2021 07:20AM EDT

Canaan Reports Customer Order Of 4K Bitcoin Mining Machines, No Price Disclosed

Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it has received from HIVE Blockchain Technologies Ltd. ("HIVE") a purchase order (the "Order") for 4,000 bitcoin mining machines with an aggregate operating hash power of 272 Petahash per second ("PH/s"). According to the terms of the Order, the Company will deliver the mining machines in two tranches over the next 60 days, including 2,000 machines in August 2021 and 2,000 machines in September 2021.

This order is an addition to HIVE's previous order placed earlier this year for 6,400 Canaan AvalonMiner 1246 Miners with an aggregate operating hash power of 576 PH/s.

Headquartered in Vancouver, Canada, HIVE is the first cryptocurrency mining company with a green energy and ESG strategy. With data center facilities in Canada, Sweden, and Iceland, HIVE aims to build a bridge between traditional capital markets and the digital currency and blockchain industry. HIVE is currently listed in the Toronto Stock Exchange, Nasdaq Stock Market, and Frankfurt Stock Exchange.

Mr. Nangeng Zhang, Chairman and Chief Executive Officer of Canaan, commented, "The order from HIVE is a testament to the performance of our mining machines as well as our ability to form long-term and mutually beneficial miner relationships. With compelling computing power and impressive cost-efficiency, we look forward to continued corporations with our mining company clients to jointly capitalize the enormous opportunities from the fast-growing cryptocurrency industry."