By Katherine Hamilton
Canaan said it has entered an agreement to sell thousands of bitcoin mining machines to AGM Group Holdings.
Canaan will provide AGM Group Holdings with 2,000 bitcoin mining machines under the agreement, it said Thursday. The deal also includes an option to acquire about 30,000 additional bitcoin units, which would potentially give AGM power capacity of 300 megawatts. AGM specializes in financial technology software.
The mining machines, called Avalon Miner A15 Hydros, enhance miners' performance and lifespan, while reducing energy consumption. The machine aligns with Canaan's environmental, social and governance strategy, it said.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
December 12, 2024 17:14 ET (22:14 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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