The demand for Bitcoin mining machines tends to increase with a significant spike in the value of the Cryptocurrency market. Mining Hardware Manufacturers reported that there was an increase in mining machinery exports, which indicates the activity of the Crypto mining industry.
This happened amidst the increase in the price of BTC. At the time of writing, Bitcoin is trading at $ 58,068 on Coinsarketcap after hitting an all-time high of over $ 60,000 on March 13. For the record, cryptocurrencies have increased by nearly 110 percent since 2021 and around 35 percent since this month.
Leading Cryptocurrency Mining Machinery Manufacturer, Canaan Creative, reported a massive demand for miners, especially from North America. As reported by the Global Times, the miners saw about 120,000 presale units from the North American market, which accounted for a 17 percent increase from their record in February. Having approached a number of fabs previously, the company is poised to produce mass mining machines more quickly, amid growing demand.
The Bitcoin mining industry has grown rapidly and many miners are just starting to enter the cryptocurrency world. Since the start of 2021, many cryptocurrency mining companies have recently revealed their plans to increase their passion for BTC by mobilizing more miners. Canaan also wanted to join the Bitcoin mining business with their machines, in addition to producing and selling to other miners.
In early February, the popular Chinese sports site, 500.com, announced its plans to explore cryptocurrency mining. As reported by Kababcoin, the company signed an agreement to acquire more than 5,000 bitcoin mining machines at a cost of $ 8.5 million. Also, Galaxy Digital set up a new division that focuses on BTC mining.
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