Canaan Technology has reached a cooperation with HIVE Digital to provide the latter with 6,500 Avalon A1566 mining machines with an average computing power of 185 TH/s. The first batch of 500 mining machines has been delivered, and the rest will be delivered in the next two years. The news pushed Canaan Technology's Nasdaq stock (CAN) up 38% to $1.74 📈.

At the same time, HIVE Digital's new 100MW expansion project in Paraguay has started and is expected to be fully operational in the third quarter of 2025, with a target computing power of 12.5 EH/s and an equipment efficiency of 17.6 J/TH. This move will further enhance its competitiveness in the field of crypto mining. 🔧🌍