Canaan to Supply 6,000 BTC Mining Rigs to Core Scientific; Aims to Boost Power by 400MW

  • Canaan, one of the leading providers of Bitcoin mining infrastructure, will be supplying 6,000 mining rigs to Core Scientific, a software solutions company for AI and Blockchain situated in North America.

In a release sent to BEG desks, Canaan confirmed the sale of 6,000 Bitcoin mining units of the A1246 model of its AvalonMiners line to Core Scientific, North America’s leading digital mining operator. The new mining rigs will be supplied across Core Scientific’s mining centers across the United States starting March 2021 to bolster Core Scientific’s positions as the leading digital mining firm in the region.

The partnership between the two tech companies looks to bolster the overall ASIC mining power of Core Scientific, intending to boost the power by 400MW with the latest purchase. The mining equipment will be supplied to Core Scientific’s mining firms, beginning in March this year, in a process expected to take at least three months, the statement further explains.

The A1246 model, launched in Q3 2020, is the latest in the line of Canaan’s AvalonMiner model producing a hashrate of 90TH/s with a power efficiency of 38J/TH.

“At Canaan, we are committed to providing ongoing support to our customers, no matter the circumstances and where they are in the world, without compromising on product quality and service standards,” said Nangeng Zhang, CEO, and Chairman of Canaan, reflecting on the challenges that COVID 19 has brought on the global supply chain of Bitcoin mining rigs. “This latest purchase from Core Scientific reflects the reliability of our manufacturing capabilities, and we are thrilled to be supporting their operations as a leader in North America's mining industry.”

Operating at a net loss for the better part of 2020, Canaan has revitalized itself with new partnerships and clients this year, also snapping up Hive blockchain as a client in January. Hive, the Vancouver listed crypto mining firm, purchased 6,400 AvalonMiner models, increasing its total hashpower by 576 PH/s.

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