Bitcoin miners are preparing for potential new all time highs in the price of Bitcoin. And Canaan is ready to supply them.
What’s happening:
- Canaan (NASDAQ: CAN) has landed a new purchase deal from CleanSpark (NASDAQ: CLSK) to supply them with their Avalon A1566I miners
By the numbers:
- CleanSpark will purchase 3800 individual Avalon 1566I miners as part of the new hardware deal
Why it matters:
- Canaan has become one of the leading publicly trading Bitcoin mining hardware companies, having secured supply agreements with some of the biggest Bitcoin miners including MARA Holdings (NASDAQ: MARA), Cipher Mining (NASDAQ: CIFR) and Stronghold Digital Mining (NASDAQ: SDIG)
- This is the first time that CleanSpark has ever purchased Bitcoin mining hardware from Canaan
Going deeper:
- Canaan’s Avalon 1566I miner is one of the most energy efficient hardware devices that has been developed for Bitcoin mining, as it consumes significantly less electricity than traditional mining hardware as well as being capable of operating in a variety of temperatures which reduces the need for highly energy intensive cooling systems
