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Canaan Expands North American Bitcoin Mining Operations, Secures Order From Hive
20.11.2024
Canaan Inc., a publicly listed manufacturer of bitcoin (BTC) mining hardware and blockchain infrastructure provider, has shared plans to broaden its self-mining footprint in North America. Publicly Listed Bitcoin Miner Canaan Bolsters U.S. Presence The announcement published on Wednesday says...
Hive Digital buys 6,500 ASICs, starts Paraguay construction
11.11.2024
Hive Digital converted some of its capacity to AI after the Ethereum Merger, and now it is upgrading its Bitcoin mining capacity
Inside Cleanspark’s Move to Boost Efficiency With 3,800 Immersion-Cooled Canaan Bitcoin Miners
1.11.2024
Canaan Inc. announced a new agreement to deliver 3,800 Avalon A1566I miners to Cleanspark Inc., a publicly listed bitcoin mining and energy technology firm. A New Deal Between Canaan and Cleanspark According to the announcement, the bitcoin miners, set to run at 249 terahash per second (TH/s)...
How Canaan Researches and Develops Green Bitcoin Mining Technology – Tony Li, VP of Canaan
27.6.2024
Established in 2013, Canaan Inc. (NASDAQ: CAN), is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. Mr. Zhibing (Tony) Li is the Vice President of Canaan Inc. He recently joined...
Mining Rig Producer Canaan’s Q1 Unrealized Gains Narrow Net Loss to $39.4 Million
18.5.2024
In the first quarter of 2024, Canaan Inc. generated $35.1 in revenues versus the $72.4 million in costs incurred in the same period which resulted in the company recording a gross loss of $37.3 million. Nangeng Zhang claimed that Canaan’s revenues in the last quarter exceeded expectations due...
Mining Rig Producer Canaan’s Q1 Unrealized Gains Narrow Net Loss to $39.4 Million
18.5.2024
In the first quarter of 2024, Canaan Inc. generated $35.1 in revenues versus the $72.4 million in costs incurred in the same period which resulted in the company recording a gross loss of $37.3 million. Nangeng Zhang claimed that Canaan’s revenues in the last quarter exceeded expectations due...
Canaan Launches New Energy-Efficient Miner A1566 at Bitcoin Asia 2024
10.5.2024
Canaan introduces the A1566 model in Hong Kong, aims to provide a more cost-effective solution for miners by offering higher data processing capabilities with lower energy consumption.
The post Canaan Launches New Energy-Efficient Miner A1566 at Bitcoin Asia 2024 appeared first on Cryptonews
Canaan Launches Upgraded Version of Its Avalon A15 Series Bitcoin Miner
10.5.2024
Canaan Inc. has launched the Avalon A15 series, with the new product being the A1566 model. This upgraded bitcoin mining machine incorporates Canaan’s most advanced technology. The A1566 model sets a new performance benchmark with an industry-leading energy efficiency ratio of 18.5 joules...
Canaan Executives Plan to Buy $2 Million in Company Shares, Citing Deep Undervaluation
23.4.2024
Two executives of the bitcoin mining rig maker Canaan intend to jointly purchase at least $2 million worth of company shares, claiming the company is "deeply undervalued," despite revenue decline.
The post Canaan Executives Plan to Buy $2 Million in Company Shares, Citing Deep Undervaluation...
Jack Dorsey’s Block Targets Chip Advancement With 3nm Bitcoin ASIC Mining Rig
23.4.2024
On Tuesday, Jack Dorsey, the founder of Block, took to X to announce that the company is “building a mining rig.” Dorsey also shared a blog post authored by Block’s lead for mining hardware products, Naoise Irwin. The post revealed enhancements in the chip design, upgrading from...
Severe Impact Expected for Miners With Outdated Hardware in Upcoming Bitcoin Halving
13.4.2024
Following the downturn in bitcoin’s price on Friday, the hashprice of bitcoin has declined from slightly above $119 per petahash per second to marginally over $116 per PH/s on a daily basis. Should the prices remain low leading up to the forthcoming halving event scheduled for next week...
Bitcoin Mining Rig Maker Canaan Secures $50 Million In Preferred Shares Sale
26.1.2024
Bitcoin (BTC) mining rig manufacturer, Canaan Inc has raised $50 million in a new funding round by selling preferred shares. The company disclosed the development in a recent filing at the Securities and Exchange Commission (SEC) stating that funds raised will be deployed to expand research...
Bitcoin Mining Rig Manufacturer Canaan Raises $50 Million Through Preferred Shares Sale
25.1.2024
In a recent disclosure to the U.S. Securities and Exchange Commission (SEC), Canaan, a publicly traded manufacturer of bitcoin mining rigs, announced it has secured $50 million through the sale of preferred shares. This follows a successful acquisition of $25 million in a similar preferred share...
Cipher Mining Bolsters Operations With 16,700 Bitcoin Miners From Canaan
5.1.2024
The Nasdaq-traded mining company Cipher Mining unveiled plans to expand its Bear LLC and Chief Mountain LLC projects, revealing the acquisition of 2.5 exahash per second (EH/s) of Canaan-crafted application-specific integrated circuit (ASIC) bitcoin mining machines. The enterprise will procure...
Survival of the Fittest: The Evolution and Consolidation of ASIC Bitcoin Mining Rig Makers
25.12.2023
Several years ago, the landscape of ASIC bitcoin mining producers was diverse. Yet, over the recent couple of years, a select few top manufacturers have sustained the production of bitcoin mining rigs. ASIC Mining’s Changing Landscape Once, numerous ASIC producers flourished, but today, only...
Top Miners Spend $1.2 Billion In Pre-Halving Machine Shopping Spree + More News
8.12.2023
Source: AdobeStock / arinahabich Get your daily, bite-sized digest of crypto and blockchain-related news – investigating the stories flying under the radar of today’s news. In this edition: Top Miners Spend $1.2 Billion In Pre-Halving Shopping Spree UK Crypto Market Grew 137% in a Year, Surpassing...
‘Stagnant’ BTC Price and Rate Hikes Drove Down Crypto Miner Canaan Inc’s Revenues in Q3
29.11.2023
Canaan Inc, the crypto miner and mining rig producer, said the company’s overall revenue in Q3 stood at $33.3 million or some $40 million lower than the Q2 revenue. According to the company’s CEO, stagnant bitcoin prices and rate hikes by the U.S. Federal Reserve were some of the...
Crypto Miner Manufacturer Caanan Reports 48% Drop in Sales – What’s Going On?
28.11.2023
Source: Adobe / Photocreo Bednarek Canaan – a China-based Bitcoin (BTC) ASIC manufacturer and operator – lost nearly half its revenue from mining machine sales last quarter, according to its Q3 earnings. Released on Tuesday, the firm’s financial results showed just $33 million in revenue for...
Canaan secures new financing as revenue falls 55% in Q3
28.11.2023
Despite a downturn in its bottom line, the company has secured a deal with an institutional investor to potentially raise $125 million in capital
An In-Depth Analysis of 7 Advanced Bitcoin Miners From Bitmain, Canaan, and Microbt
27.10.2023
Recently, the top three bitcoin mining rig manufacturers unveiled a group of next-generation products with efficiency ratings of less than 20 joules per terahash (J/T) and powerful hashrates. In total, Bitmain, Canaan, and Microbt released seven new devices. The following provides a look at...