Bitcoin

Genesis Digital Assets Acquires Canaan 20,000 Bitcoin Mining Rigs, Company Can Buy 180K

Genesis Digital Assets Acquires 20,000 Bitcoin Mining Rigs from Canaan, Company Has Option to Buy 180K More

Canaan, a Chinese-based bitcoin ASIC mining machine maker, has announced that it will buy Genesis will buy 20,000 bitcoin miners from Canaan and the mining operation also has the option to purchase an additional 180,000 mining rigs from the Chinese ASIC manufacturer.

Canaan Sells Genesis 20K Miners, Genesis Can Buy 180K More

Bitcoin mining rig manufacturers have made very large sales during the second half of 2020 and into 2021. For instance, in December 2020, Bitcoin.com News reported on Marathon’s record-breaking acquisition of 70,000 high-performance bitcoin miners from Bitmain for $170 million. That same month, Riot Blockchain bought 15,000 Antminers from Bitmain.

During the first week of August 2021, Marathon purchased 30,000 miners from Bitmain. Canaan sold 11,760 next-generation A1246 ASIC Avalonminers to a company called Mawson Infrastructure Group in April. At the end of that same month, Genesis Digital Assets purchased $93 million worth of ASICs from Canaan. In mid-June, Genesis revealed it bought 10,000 ASIC bitcoin miners from Canaan.

Now Genesis and Canaan announced that they have reached an agreement. According to the announcement on August 31, the mining operation Genesis has purchased 20,000 bitcoin mining machines from the China-based mining rig maker.

But the two companies are also looking to settle on the “largest mining machine deal to-date,” as Genesis now has the option to purchase 180,000 ASIC miners from Canaan. The co-founder and executive chairman of Genesis Digital Assets, Abdumalik Mirakhmedov, says the firm hopes to increase the capacity a great deal by 2023.

” This latest purchase order for Bitcoin mining machines is part of our ongoing efforts to quickly scale our operations in North America, the Nordics and elsewhere that uses energy from renewable sources. Mirakhmedov stated in a statement. “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.”

Canaan Shares Dip 74% Since Mid-March

Canaan, a publicly listed firm, has shares that trade on Nasdaq. Each share is trading for $9 on Tuesday. 24 per unit. However, Canaan (Nasdaq: CAN) shares have lost 74. 61% in value since March 11, 2021, when a single CAN share exchanged hands for $36.40. Canaan’s chairman and CEO Nangeng Zhang said that the company is still “diligent” in helping its miner clients grow.

“We have made many great deals since we joined the long-term partnership agreement with Genesis Digital Assets in January. The Canaan CEO said that the order, which includes the option to purchase large quantities in the future, strengthens our collaborations and reflects both sides’ faith in the potential of cryptocurrency mining.

What do you think about Canaan’s recent deal with Genesis Digital Assets? Please comment below to let us know your thoughts on this topic.

This story contains tags

1.4 gigawatts, 180K ASICs, 20K ASICs, Abdumalik Mirakhmedov, Bitcoin mining, Bitmain, Canaan, Canaan Avalonminers, Canaan Sale, Canaan Shares, China, Chinese ASIC manufacturer, Genesis Canaan, Genesis Digital Assets, Marathon, mining, mining bitcoin, mining operation, Mining Rig Purchase, Nangeng Zhang, renewables, Riot Blockchain

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Bitcoin

$GME ETH Meme Coin: From Disruption to Sustained Value

Meme coins have been instrumental and effective in gaining traction for and within the crypto market recently. By December last year, the meme coin sector was worth more than 11% of the crypto market capitalization, excluding Bitcoin and Ether.

Between Jan 1 and Dec 1 last year, meme coin trading volume grew 979%. It accounted for 5.27% of the entire crypto market’s volume. The data point that is even more telling about the thriving meme coin ecosystem is that approximately 1 million new tokens are created weekly in this space. But do all the coins thrive the same way? The numbers say otherwise.

Coins that Rose and Fell Flat

Dogecoin, one of the most discussed meme coins, fell sharply twice. The coin hit its all-time high in May 2021, when the price reached almost US$0.74. However, the coin failed to sustain its price and currently trades at US$0.15.

The same happened with $TRUMP. Soon after its launch, the token witnessed explosive growth and reached an all-time high of US$75.35. It took only two days for the coin to travel from an all-time low of US$6.24 to an all-time high. However, with the presidential elections over, the enthusiasm around the token largely fizzled out. The token currently trades at a little over US$10.

Nearly the same pattern of fall could be seen in the case of $MELANIA. This meme coin hit its all-time high price of US$13.73 on January 19, 2025. In less than a couple of months’ interval, the price came down to an all-time low of US$0.65.

However, this is not the case for all Meme coins. GME ETH, in particular, is uniquely poised to capture the imminent fresh influx of capital the market is about to witness.

$GME ETH: The Sustained Disruptor

The digital asset space is all set to onboard the largest wave of participants from traditional finance. Bitcoin will likely hit US$100K once again, creating a positive psychological impact for many new investors and skeptics to embrace this asset class. Amid this, $GME ETH is uniquely placed to onboard this group of investors as the Gamestop movement is instantly relatable and familiar to trad-fi participants.

It is possible to buy $GME through conventional avenues using Apple Pay, Google Pay, PayPal, and other trusted payment methods. One can become a $GME owner on more than 35 trusted Centralized Exchange or may get their $GME directly on a Decentralized Exchange, ensuring complete control over your assets and privacy in every transaction.

Inspired by the 2021 stock market short squeeze, GME Ethereum is built on one of the most secure blockchains, Ethereum. It benefits from Ethereum’s robust security, decentralization, and ongoing scalability improvements through Layer 2 solutions.

Over time, the coin has emerged as a community-driven cryptocurrency that embodies resilience, determination, solidarity, and perseverance. It seeks to address challenges that exist in traditional financial markets, including limited information, fewer resources, market manipulation, and high transaction costs.

Altogether, $GME has moved beyond the role of playing a disruptor and emerged as a coin that could offer sustained value and build a loyal ecosystem by offering a lot more than appreciation in prices. It offers educational opportunities, access to a community of investors and traders, a wide wallet distribution, and low gas fees. Overall, it’s a wholesome place for any investor—new or experienced—to thrive!

Oliver Dale

Editor-in-Chief of CoinCentral and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact Oliver@coincentral.com

Bitcoin

BinoFi (BINO) Rivaling Bitcoin (BTC) as 2025’s Most Talked-About Crypto Investment

While Bitcoin (BTC) has long been the crown jewel of crypto investments, a new contender, BinoFi (BINO), is swiftly gaining traction among industry insiders.

Its cutting-edge hybrid exchange, innovative features, and accelerating adoption have many asking: Could BinoFi rival Bitcoin as the most talked-about cryptocurrency by 2025?

Here’s an in-depth look at what makes BinoFi unique and why it’s capturing the attention of both novice and seasoned investors.

The BinoFi Revolution: What Sets It Apart?

BinoF is a next-generation hybrid exchange designed to combine the best of centralized (CEX) and decentralized exchanges (DEX). This revolutionary approach aims to address long-standing issues in crypto trading, such as inefficiencies in liquidity, slow transactions, and security concerns.

Here’s what makes BinoFi stand out:

Hybrid Liquidity Model: BinoFi offers the flexibility of tapping into both centralized liquidity pools for speed and decentralized smart contracts for security. This ensures trades are executed at the best possible price with minimal slippage.
Cross-Chain Trading Without Bridges: Unlike most platforms reliant on wrapped assets or third-party bridges, BinoFi enables direct trading across blockchains. This feature significantly reduces operational risks and improves user confidence.
AI-Driven Trading Tools: BinoFi introduces AI-powered smart trading bots, market alerts, and automated risk analysis tools that enable users to trade smarter and capitalize on market opportunities.
Non-Custodial Security: Thanks to its Multi-Party Computation (MPC) wallets, users maintain full control over their assets while enjoying the conveniences of traditional exchanges like gasless transactions and account recovery
Proof-of-Reserves Transparency: BinoFi uses on-chain proof-of-reserves to ensure liquidity, minimizing risks of insolvency that plague centralized exchanges.

These cutting-edge innovations position BinoFi as a versatile, secure, and user-friendly exchange platform that appeals to both professional traders and everyday users.

Bitcoin’s Legacy vs. BinoFi’s Potential

Bitcoin is undeniably a trailblazer, having introduced blockchain technology and decentralized finance to the mainstream. However, as the market evolves, Bitcoin’s limitations have become evident. Its scalability issues and slow transaction speeds make it hard to compete with modern solutions like BinoFi.

BinoFi is already achieving milestones that bolster its trajectory toward becoming a powerhouse in cryptocurrency. Its listing on CoinMarketCap marks its arrival on the global stage.

BinoFi’s fast-moving presale has made headlines with an extraordinary level of participation. Early backers are increasingly optimistic, and analysts believe the token could surpass the $1 mark by mid-2025, offering early investors life-changing returns.

Bitcoin’s strength lies in its community, but BinoFi is forging its own robust following. From its $1 million giveaway to its gamified trading system, BinoFi is building an ecosystem driven by engagement and innovation.

Features such as Trade-to-Earn and social trading further enhance its appeal, catering to a new wave of crypto enthusiasts.

Crypto analysts are increasingly bullish on BinoFi. A well-known industry expert highlighted, “BinoFi’s hybrid model is not just innovative; it’s a game-changer. By balancing speed, security, and transparency, it addresses fundamental flaws in current crypto exchanges. Its potential to scale and attract institutional adoption is immense.”

Could BinoFi Be Your Golden Opportunity?

With growing market traction and innovative technology, BinoFi represents a fresh perspective on crypto trading. While Bitcoin paved the way for decentralized finance, BinoFi is arguably the next step in its evolution. Whether you’re an investor who missed Bitcoin’s early days or someone looking to diversify, BINO offers a compelling case.

The cryptocurrency market is no stranger to swift transformations, and those who act early often reap the greatest rewards. The buzz surrounding BinoFi’s presale, expert predictions, and $1 million giveaway are not just hype but signals for a future ready to disrupt the crypto world.

Conclusion

BinoFi is more than just a cryptocurrency; it’s a movement redefining how assets are traded and managed. Its hybrid model and innovative technology could make it the centerpiece of the next generation of blockchain solutions.

For those seeking a high-potential investment opportunity, BinoFi offers an exciting chance to be part of what could become 2025’s most talked-about crypto investment.

Website: https://binofi.com

Whitepaper: https://whitepaper.binofi.com

Giveaway: https://giveaway.binofi.com

Telegram: https://t.me/binofilabs

Twitter: https://x.com/Binoficom

CoinMarketCap: https://coinmarketcap.com/currencies/binofi/

Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

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Bitcoin

Restaked Bitcoin Protocols Skyrocket 4,459% in Just 9 Months

Since the advent of restaking bitcoin and Babylon’s leading role in the space, restaked bitcoin protocols have exploded onto the scene with phenomenal momentum. Over the past nine months, these protocols have skyrocketed by 4,459%, showcasing a significant upward trajectory. From $69 Million to $3.1 Billion: The Meteoric Growth of Restaked Bitcoin Ecosystems Bitcoin-based decentralized [……
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