Canaan will install 2,000 Avalon ASIC miners in Kazakhstan on its farms. This will increase the computing power of the company up to 850 Px / s.
Chinese mining equipment manufacturer Canaan
withsummarized on the successful delivery of 2,000 Avalon ASIC miners to Kazakhstan. In June, the company announced it was diversifying its business in Kazakhstan after the crackdown on the mining industry began in China.
Canaan is currently using 32,000 TH / s of computing power and plans to increase this to 850,000 TH / s in the near future. The company aims to achieve a capacity of 1.8 Eh / s, which will be 1% of the current capacity of the Bitcoin network, said Nangeng Zhang, CEO of Canaan.
Oincome statement for the III quarter.
He revealed that Canaan has also signed additional contracts to sell 1 Eh / s of its own hash rate, with shipments starting by the end of January. In comparison, Canaan reported in its Q3 income statement that it sold 6 Eh / s of processing power in the past three months.
“Our current tactic is to save bitcoins, we will not trade them in the short term. But we do not rule out the possibility of trading them in the future, ”Zhang said in the income statement.
As a reminder, Kazakhstan is considering a draft law on cryptocurrency mining. President Kassym-Jomart Tokayev at the beginning of November listened to a report on illegal mining and instructed to finalize the legal framework.