2 November, 2024
Inside Cleanspark's Efficiency Efficiency Initiative Using 3,800 Immersion-Cooled Canaan Bitcoin Miners
Canaan Inc. has announced a new agreement with Cleanspark Inc. to deliver 3,800 Avalon A1566I miners to the publicly traded bitcoin mining and energy technology company.
Inside Cleanspark's move to improve efficiency with 3,800 immersion-cooled Canaan bitcoin miners
Canaan's new agreement with Cleanspark
According to the announcement, the bitcoin miners will run at 249 terahertz per second (TH/s), are not overclocked, and are configured for immersion cooling - a technique that improves performance by submerging mining hardware in liquid. Delivery is expected to be in the fourth quarter of 2024.
Canaan Inc. (NASDAQ: CAN) said the Avalon A1566I complies with Cleanspark's (NASDAQ: CLSK) immersion cooling approach, which it says will improve the energy efficiency of its mining operations. Cleanspark is focused on positioning its fleet of miners as one of the most energy-efficient in the industry, using cooling technology to address heat dissipation issues typically seen in high-powered setups.
Immersion cooling has been promoted as a method to both extend hardware life and increase mining output, and is clearly aligned with Cleanspark’s goal of maintaining an efficient and strategically deployed fleet of mining machines. The agreement reflects Canaan’s ongoing efforts to expand its presence in North America, where Cleanspark has multiple mining facilities.
According to Canaan, the partnership is part of its broader strategy to deepen relationships with regional companies and support Cleanspark’s business expansion, signaling the two companies’ shared interest in sustainable mining practices through technological innovation. Cleanspark’s purchase of the Avalon miners will generate 946 terahashes per second (PH/s) of SHA256 hashrate.
“We are steadfast in our commitment to supporting the North American mining community and are excited about the new opportunities this partnership opens up in our regional expansion,” said Canaan Chairman and CEO Zhang Nange on Friday.
