A regional report from China indicates that bitcoin mining rig manufacturers have seen a massive surge in demand since the price of the leading crypto asset skyrocketed. Companies such as Canaan Creative have placed significantly sized mining rig orders while other companies like Bitmain are completely sold out.
Bitcoin Mining Rig Manufacturers Experience a Device Demand Boom
Bitcoin (BTC) prices in February have spiked considerably in value and this has fueled the BTC mining sector a great deal. On Friday, the Bitcoin network hashrate is hovering above the 150 exahash (EH/s) range and there are 21 pools directing hashrate at the blockchain.
On Sunday, February 21, 2021, BTC prices touched an all-time high (ATH) at $58,354 per unit but the price has since dropped in value since then. The price per BTC has been hovering around the $47k handle at the time of publication on Friday afternoon (EST).
On Thursday, a regional report from China details that Chinese mining device manufacturing businesses are seeing lots of demand for products. China’s Global Times contributor Yin Yeping highlights that mining machine makers [are] seeing a surge in demand.”
The report notes that Shanghai Securities News revealed that Canaan Creative shares jumped 318% this year. Moreover, the company Ebang and Ebon International shares were up 82%.
Advance-Orders and Sold Out Stock
Yeping’s report also says that Canaan has revealed it has seen a “jump in orders since last year.” Central Asia and North America were the two regions with the most demand for mining devices, Canaan detailed.
On Tuesday, Canaan told the regional publication that it has contracted advance orders from both Core Scientific and Hive Blockchain. Canaan will supply 6,400 ASIC mining machines to Hive and 6,000 mining rigs to Core Scientific.
According to Canaan, 100,000 units have been pre-ordered by customers from North America this year and the firm claims to have seen…