Canaan subsidiary enters purchase agreement with Hive Digital for Avalon miners

Canaan (CAN) announced that Canaan Creative, a wholly owned Singapore subsidiary of the company, has entered into a purchase agreement with Hive Digital (HIVE), for its Avalon A1566 miners. According to the purchase agreement, CCG will provide Hive with 6,500 Avalon A1566 miners, with an average computing power of 185 Terahash per second. Of the 6,500 A1566 miners, 500 miners have been immediately delivered and are scheduled for installation. The remaining 6,000 machines will be delivered in four monthly shipments of 1,500 units, from December through March 2025.