Canaan nabs follow-on purchase order from HIVE Blockchain for 6.5K bitcoin mining machines

Canaan (NASDAQ:CAN) secured a follow-on purchase order from HIVE Blockchain Technologies (NASDAQ:HIVE) for 6.5K units of its nex-gen Avalon Bitcoin mining machines. This new order by HIVE follows the two recent purchases of 4K units and 6.4K units of Canaan's Avalon Miners in August 2021 and January 2021, respectively. HIVE currently has ~1.2 Exahash per second (EH/s) of Bitcoin mining capacity, and with this new purchase, HIVE's Bitcoin ASIC pipeline will be at 2 EH/s by December 2021, and 3 EH/s by March 2022. CAN shares trading 0.6% down premarket and HIVE shares 0.5% higher. Crypto stocks have been trading higher as bitcoin breached its all-time highs; HIVE shares reported 39% gain in past 1-month and CAN shares garnered 56%.