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ASIC Maker Canaan Delivers 2,000 Mining Rigs to Kazakhstan

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Crypto mining rig maker Canaan delivered 2,000 Avalon mining rigs to Kazakhstan, in accordance to a press launch shared with CoinDesk on Monday.

  • The Chinese rig producer introduced in June that it could be diversifying its mining enterprise in Kazakhstan, within the wake of China’s crackdown on the business.
  • Following the supply, Canaan’s overseas-registered entity in Kazakhstan will begin joint operations, and expects extra batches to arrive all through the week, the press launch stated.
  • The firm at present operates 32,000 terahash per second (TH/s) of computing energy and plans to operationalize 850,000 TH/s “in the near term,” in accordance to the press launch.
  • Canaan plans to deploy 1.8 exahashes per second in complete, stated CEO and chairman Nangeng Zhang on its Q3 earnings name in accordance to The Block.
  • Kazakhstan has been engaged on new regulation to cope with the inflow of miners following the crackdown in China.

Read extra: Kazakhstan’s Crypto Miners Face New Regulations After Contributing to Power Shortages

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