Genesis Digital Assets buys 20K Bitcoin miners after $125M raise

Genesis Digital Assets buys 20K Bitcoin miners after $125M raise

The United States-based Bitcoin (BTC) mining company Genesis Digital Assets continues growing its cryptocurrency mining power with a fresh deal with Chinese crypto mining giant Canaan.

Genesis has secured a purchase order for purchasing 20,000 Bitcoin miners from Canaan, the mining machine manufacturer announced on Aug. 31.

In conjunction with the new purchase, Canaan has also granted Genesis an opportunity to buy up to 180,000 additional BTC mining machines, Canaan said.

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Genesis co-founder and executive chairman Abdumalik Mirakhmedov noted that the new batch of Bitcoin miners will help the firm further expand its mining operations in North America and the Nordics. He added that Genesis is focused on scaling up in these regions as the company is focused on energy coming from renewable sources.

“These new machines will dramatically increase our capacity as we work towards our goal to increase our capacity to 1.4 gigawatts by the end of 2023,” Mirakhmedov said. According to the company’s website, Genesis’ data center capacity was at over

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