Mawson Infrastructure Group, an Australian cryptocurrency mining company, has purchased an additional 17,352 ASIC Bitcoin mining machines from Chinese rig maker Canaan in a move to bolster its mining operations on its home turf and in the United States.
Fast facts
- Mawson plans to deploy the additional machines — Avalon A1166s and A1246s — purchased from Canaan across its U.S. and Australian operations in 2021 and 2022, according to a company statement released yesterday.
- This follows Mawson’s previous deals with Canaan over the past few months. On July 21, Mawson said in a statement that it had taken delivery of 250 Bitmain Antminer S19 Pros and that it was expecting a further 570 of Canaan’s Avalon A1246 miners to be delivered by the end of July, as well as an additional 588 Avalon A1246 miners in early August.
- “Coupled with our extensive power infrastructure across the U.S.A. and Australia, we look forward to having these units online in late 2021 and early 2022,” Mawson founder and CEO James Manning said in yesterday’s statement.
- Mawson also announced this week that it had completed an approximately US$37 million private offering of its common stock, and that the proceeds would be used to “significantly expand Mawson’s installed PH, via the acquisition of additional ASIC Bitcoin mining hardware, CAPEX for its facilities and additional power infrastructure.”
- Meanwhile, Canaan has been boosting its sales to North America, as the region emerges as a hardware demand hotspot amid Beijing’s regulatory onslaught against the crypto sector. For instance, Poolin, a major mining pool in China, has set sail for America. “Large players are all over the U.S. now looking for deals,” Alejandro De La Torre, a vice president at Poolin, told Forkast.News in an interview earlier this week, adding that the company had decided to shift its mining activities to Texas, and that some executives have moved to the state, to “facilitate the relocation as quickly as possible.”
