Canaan Technology signed a purchase protocol with HIVE Digital, which will provide 6500 units of Avalon A1566 Mining Rig for HIVE.

PANews reported on November 11th that ASIC Mining Rig manufacturer Canaan has signed a purchasing protocol with HIVE Digital, which will provide HIVE with 6,500 Avalon A1566 Mining Rigs with an average Computing Power of 185 TH/s. Currently, the first batch of 500 Mining Rigs has been delivered and planned for installation, and the remaining 6,000 will be delivered in batches from December 2021 to March 2025. In response to this news, Canaan's NASDAQ stock (CAN) pumped 38% to $1.74. In addition, HIVE Digital announced the start of a new 100-megawatt expansion project in Paraguay, expected to be fully operational in the third quarter of 2025, with a target Computing Power of 12.5 EH/s and equipment efficiency of 17.6 J/TH.