On May 4, 2023, the bitcoin miner Stronghold Digital Mining announced a two-year hosting deal with Cantaloupe Digital, a subsidiary of Canaan.
, a subsidiary of Canaan, the manufacturer of Avalon-made ASICs. Starting May 15, Stronghold Digital will install Avalon A1246 mining rigs, each with 90 terahash per second of hashpower.
According to the announcement, the company plans to install 2,000 Avalon A1346 miners in June. Each A1346 miner is expected to have a hashpower of 110 TH/s. Once all the miners are installed, Stronghold anticipates that its delivered hashrate capacity will increase to 3.6 exahash per second by June.
According to Stronghold, the latest move will allow the company to fully utilize the capacity of its Panther Creek data center. As part of the agreement, Stronghold will receive 50% of the bitcoin mined by the Canaan Miners. Additionally, Canaan will make payments to Stronghold equal to 55% of the net cost of power at the Panther Creek plant, calculated on a monthly basis in dollar-per-megawatt-hour terms.
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