Chinese cryptocurrency mining company Canaan opens shop in Kazakhstan during crackdown

In the ongoing crackdown on Bitcoin, China’s major cryptocurrency miner supplier Canaan released the latest information on its cryptocurrency mining business in Kazakhstan (Bitcoin) Mining in China.

Canaan Announce On Monday, the company launched its own crypto mining business in Kazakhstan using its latest Avalon Miner equipment.

The company’s move to Kazakhstan is part of the company’s broader strategic plan in the country.Canaan before turn on Earlier this month, its first overseas service center in Kazakhstan provided local customers with after-sales services such as machine testing, warranty services, maintenance and technical consulting.

Zhang Nan, chairman and CEO of Jianan Zhizhi, said that the company’s first self-operated bitcoin mining business will help improve the company’s financial performance. “As we integrate more industry resources into our operations, we believe that this business unit will enable us to revitalize our mining machine inventory, protect us from Bitcoin fluctuations, and ensure that we are safe when the market improves. There is plenty of stock,” he said.

related: Chinese Bitcoin miners “not even in the mood to drink”

In recent weeks, China has been strengthening its position on cryptocurrencies, and the government Closing the crypto mining business Distributed in Sichuan, Yunnan, Xinjiang, Inner Mongolia and Qinghai.In response to the suppression, many Chinese crypto miners have considered or have relocated to other countries, and the main mining pool has succeeded Relocation of the first batch of miners Traveled to Kazakhstan earlier this week.

According to reports, Bitmain is moving overseas to continue its mining business.According to Chinese reporter Colin Wu, the company Announce Fully moved abroad on Tuesday.