Important ASIC factory will also mine Bitcoin in the Americas

Key facts:
  • Canaan hopes to expand its mining and sales operations in the United States.

  • The company sent more than 10,000 miners to Kazakhstan to boost its hashrate in early 2022.

Canaan, manufacturer of ASIC hardware for Bitcoin mining, plans to found new mining facilities in the United States soon. According to its CEO, Edward Lu, the company’s plan is to strengthen both its mining and sales branches in North America.

In an interview with another specialized media, Lu spoke about Canaan’s expansion plans in the mining area, not only as an equipment manufacturer but also as an operator of mining farms.

The executive did not give details about the tentative date of the jump from Canaan to the United States, nor about the hashrate that they hope to produce from there. Nevertheless, is optimistic after the figures it has been obtaining with its mining operations in Kazakhstan. “Mining in Kazakhstan is doing well and is progressing fast, and we expect great growth as well,” were Lu’s words when talking about the subject.

CriptoNoticias reported that, during the third quarter of 2021, Canaan mined more than 23 bitcoinswhich at that time was equivalent to about USD 1.4 millionaccording to the price of BTC in the market.

Earlier this year, Canaan sent 10,300 new miners Bitcoin ASIC to its facilities in Kazakhstan. Which makes a promising outlook look, not only for Canaan but for mining in general in Kazakh territory.

Following the exodus of miners fueled by China’s bans on all things Bitcoin and cryptocurrencies, including data mining, many medium and large-scale Bitcoin miners saw Kazakhstan as a good opportunity to get back into business. . Nevertheless, the Kazakh government began to condition cryptocurrency mining through stricter laws and regulations.

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