Canaan nabs $93.6M in bitcoin mining machine order through strategic partnership with Genesis Digital Assets

Canaan ([[CAN]] -0.8%) entered into a long-term strategic partnership with Genesis Digital Assets and secured a purchase order valued at up to $93.6M.As part of the order, Canaan will deliver its A1246 AvalonMiner mining machines to Genesis Digital Assets across 2021, adding 117MW in next-gen Bitcoin computing capacity to Genesis Digital Assets' current capacity of 140MW.Since 2013, Genesis Digital Assets and its legal predecessors has brought 250K+ miners online and mined $1B+ in Bitcoin; as of April 2021, Genesis Digital Assets' operations accounted for more than 1.2% of the world's total Bitcoin mining hashrate."Our A1246 Avalon Miner has a stable hashrate of 90TH/s and power efficiency of 38J/TH, making it one of the most powerful ASIC miners on the market today," chairman & CEO Mr. Nangeng Zhang commented.