PANews reported on November 11 that according to The Block, ASIC mining machine manufacturer Canaan Technology has signed a purchase agreement with HIVE Digital to provide HIVE with 6,500 Avalon A1566 mining machines with an average computing power of 185 TH/s. Currently, the first batch of 500 mining machines have been delivered and are scheduled to be installed, and the remaining 6,000 will be delivered in batches from December to March 2025. Influenced by this news, Canaan Technology's Nasdaq stock (CAN) rose 38% to $1.74.
In addition, HIVE Digital announced that construction of a new 100 MW expansion project in Paraguay has begun 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.
