Bitcoin Mining Power Increases in Australia as Mawson Buys 17,352 BTC Miners

August 17, 2021, 10:00 AM AEST - 1 month ago

Sydney-based crypto mining company Mawson Infrastructure is looking to increase its mining power in Australia by purchasing 17,352 ASIC bitcoin mining rigs from Chinese manufacturer Canaan Creative.

On August 12, Mawson announced it had purchased an additional 17,352 latest-generation Avalon A1166 and A1246 mining rigs, which will be deployed across the company’s US and Australian operations in late 2021 and early 2022. 

Mawson Sets 5000 HP Goal by 2022

The company is looking to reach its goal of 2000 PH (petahashes) by the end of 2021, and 5000 PH by 2022. If all machines are deployed successfully, Mawson’s current hashrate capacity could increase by 1,500 PH.

Coupled with our extensive power infrastructure across the US and Australia, we look forward to having these units online in late 2021 and early 2022. We again reiterate our end of CY21 goal of 2000 PH and end of CY22 goal of 5000 PH, and look forward to updating shareholders further on hardware purchases in due course.

James Manning, Mawson founder/CEO

Chinese bitcoin mining companies have had a hard time with their businesses thanks to the PRC government crackdown on mining this year, and Canaan is no exception. The company has had to move its operations across borders, mostly to Kazakhstan.

The recent purchase comes in handy for both the mining company and the manufacturer, as hardware supply is becoming harder to get.

We are very happy to have contracted another large order with Canaan, who have been fantastic partners to date. Canaan has delivered consistently and on time, and in an environment where ASIC bitcoin mining hardware supply is once again becoming harder to secure, we are delighted to further cement our partnership.

James Manning, Mawson founder/CEO

As Crypto News Australia revealed a month ago, Mawson Infrastructure acquired 90 percent of Luna Squares, a major US bitcoin mining group, and it plans to fully acquire the company over time. The Canaan deal only consolidates its mining armoury.

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