Canaan Secures Major Mining Deal With HIVE, Shares Soar On Equipment Order

On Monday, Canaan Inc. (NASDAQ:CAN) revealed that its wholly owned Singapore subsidiary, Canaan Creative Global, entered into a purchase agreement with HIVE Digital Technologies Ltd. (NASDAQ:HIVE) for Avalon A1566 mining machines.

Under the agreement, Canaan Creative Global will supply HIVE with 6,500 Avalon A1566 miners, each offering an average computing power of 185 Terahash per second (TH/s). Canaan and HIVE Digital stocks gained after the update.

The initial delivery of 500 units has already been completed, and these miners are scheduled for immediate installation.

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