Stronghold Digital Mining announced Thursday it has acquired 2,000 application-specific integrated circuit (ASIC) bitcoin mining rigs from Canaan. The new machines, costing $3 million, will be delivered to Stronghold’s Panther Creek facility in the third quarter.
Stronghold Digital Mining Acquires 2,000 Avalon A1346 Bitcoin Miners
Although 2022 wasn’t an exceptional year for bitcoin mining operations, firms have significantly expanded in 2023. New facilities have been launched, and mining companies have purchased thousands of bitcoin miners for expansion. On Thursday, Stronghold Digital Mining, listed on Nasdaq as SDIG, revealed it has purchased 2,000 Avalon A1346 bitcoin miners crafted by Canaan.
The Canaan mining machines are estimated to produce a hashrate of around 110 terahash per second (TH/s), with a single machine consuming 3,300 watts. The power efficiency of a single Avalon A1346 is approximately 30 joules per terahash. Stronghold specified that the new machines, costing
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