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2021-02-09 23:22:47
Jacob Fisher

Editor

2021-02-09 23:22:47

This stock is better investment than Bitcoin

With Bitcoin blowing the 47.000$ and cryptocurrencies marketcap surpassing 1.3Trillion it is wise to say that investing in the hardware manufacturer of the bitcoin mining supercomputers is smart and more profitable investment short and long term!

With Bitcoin blowing the 47.000$ and cryptocurrencies marketcap surpassing 1.3Trillion it is wise to say that investing in the hardware manufacturer of the bitcoin mining supercomputers is smart and more profitable investment short and long term!

What is Canaan Inc?

Canaan ($CAN is currently the only commercial miner manufacturer on the stock market) Canaan is a leading provider of supercomputing solutions, distinguished for superior cost-efficiencies and performance. In addressing the limitations of today’s computing hardware, Canaan strives to advance the world we live in by powering transformative technologies.

Canaan is renowned for having invented the world’s first ASIC-powered bitcoin mining machine in 2013, radically catalysing the growth of a computationally-advanced bitcoin mining sector. Today, Canaan continues to be the second largest designer and manufacturer of bitcoin mining machines globally.>

On 2021-02-07 Canaan announced that it will be supplying 6,000 units of its A1246 model of AvalonMiners to Core Scientific, the leading digital mining operator in the United States. The next-generation A1246 AvalonMiners are expected to further cement Core Scientific’s industry-leading position as the largest digital asset mining operator in North America.

Canaan’s latest bitcoin mining machines, purchased by Core Scientific for the benefit of one of its major hosting clients, will be received and installed over the course of three months. Beginning in March, the first of these miners will be deployed across Core Scientific’s US-based data centers to bolster the firm’s existing Application-Specific Integrated Circuit (ASIC) bitcoin mining capabilities with over 400MW of power under contract.>

“Growing demand for digital mining hardware has forced manufacturers to adapt as the COVID-19 pandemic continues to impact global supply chains. 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. “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.”

The A1246, Canaan’s latest AvalonMiner model, is a SHA256 mining rig, originally launched in Q3 2020. The A1246 produces a stable hashrate of 90TH/s with a power efficiency of 38J/TH, making it one of the fastest ASIC miners on the market today.

“Mainstream adoption of digital asset investment is increasing exponentially, with large public companies and financial institutions looking for exposure to the sector at an accelerated rate. To address demand, we’re adding to our fast-growing fleet,” said Kevin Turner, President and CEO of Core Scientific. “Working with Canaan will help us meet this goal and strengthen our position as the largest hosting provider in North America.”