Canaan has achieved a record treasury, mining 89 BTC in March, bringing its holdings to 1,808 BTC and 3,952 ETH. The company is expanding its operations with low-cost power assets in Texas, having acquired Cipher Mining's Texas ABC Projects for $39.75 million, adding 4.4 EH/s at electricity costs below $0.03/kWh. Canaan's CEO and CFO have also purchased 1.45 million ADS in the open market.
Meanwhile, HIVE has raised $75 million through zero-coupon convertible notes to expand its GPU and AI data centers. The company has received conditional approval for a senior listing on the TSX, expected by April 30. HIVE has also signed a $30 million contract with BUZZ HPC, aiming for $15 million in first-year ARR, and currently holds 2,201 BTC.
Canaan and HIVE Make Strategic Moves in Crypto and AI Sectors
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