Genesis Buys $93 Million Of Canaan ASICs

According to a press release sent to Bitcoin Magazine, bitcoin miner manufacturer Canaan “announced a long-term strategic partnership with Genesis Digital Assets, an industrial-scale bitcoin mining firm.”

Through the partnership, Genesis is set to receive $93.63 million worth of Canaan’s next-generation A1246 AvalonMiner rigs, which it says can produce a hash rate of 90 terahashes per second with a power efficiency of 38 joules per terahash. Genesis is set to receive the rigs in the first half of this year, and they could add up to 117 megawatts of computing capacity to its mining operation.