Bitcoin mining firm Genesis Digital Assets is expanding its operations. The company has announced that it has ordered over ten thousand mining machines from Canaan, a Chinese mining hardware company. This is the second order that the company is making this year. The last order was done two months ago and had a value of about $94 million.
While the company has not disclosed the value of its current order, it has revealed that its latest order was for the A1166-Pro and the A1246 Avon Miners. These are pretty powerful miners, with the A1246 having a maximum of up to 90 TH/s. The A1166-Pro is a little older, but it’s an equally powerful miner and has a maximum of about 81 TH/s.
Commenting on these purchases, the company’s co-founder, Abdumalik Mirakhmedov, stated that the new purchase was aimed at bolstering the company’s hash rate. He specifically noted that they intend to double their hash rate over the next few months.
Genesis has in the past stated that it has more than 2.1 EH/s. If its assertions are factual, Genesis controls over 1.4% of the total BTC hash rate. The firm is currently one of the largest miners in the world.
Its equipment supplier Canaan is an equally large company. Not only is the mining equipment maker listed on the NASDAQ, but it has also been expanding its global reach. The company recently opened an office in Kazakhstan. It attributed this expansion to its growing sales across the globe.