Image default
Mining

Canaan expands crypto mining operations in Kazakhstan

Canaan, which is a number one Bitcoin mining {hardware} firm, introduced its strategic collaboration with crypto mining companies in Kazakhstan to bolster the joint mining enterprise in the area. 

Canaan enters into strategic alliances with Kazakh crypto mining companies

Canaan on Tuesday announced that it had efficiently deployed 10,300 AvalonMiner items in Kazakhstan. As of December thirty first, 2021, the corporate had formally finalized section one in every of its deployment trajectory in the area. 

According to the press launch, Canaan will likely be coming into into strategic alliances with a number of crypto mining companies as a part of its enlargement plan. The firm, nevertheless, has not listed the names of any native companies that it intends to collaborate with. 

“The deployment of over 10,000 mining machines not only deepens our collaboration with leading local mining farms but also marks our great strikes in our cultivation of the Bitcoin mining business. Joining hands with mining firms, we are excited to leverage each of our respective strengths and resources to maximize profits and capitalize on the growth of the digital assets industry.” As acknowledged by Nangeng Zhao, Chairman, and CEO of Canaan. 

Founded in 2013, Canaan is a Nasdaq-listed Bitcoin mining producer firm that focuses on ASIC high-performance computing chip design and analysis to spearhead the event of crypto mining gear.  

Kazakhstan emerges as a number one spot for stranded Bitcoin miners

Kazakhstan has emerged as one of the highest spots for Bitcoin mining, after Russia and the USA. Following crypto clampdown in China, many ousted Bitcoin miners discovered refuge in Kazakhstan, the place the area’s low cost electrical energy costs acted as a catalyst for them to mine Bitcoin with minimal exterior intervention. 

The costs of electrical energy in Kazakhstan are the bottom as in comparison with different nations. The average electrical energy consumption in the area quantities to just about $0.041 per kWh for households. 

Recently, the nation has additionally been dealing with frequent electrical energy shortages owing to in depth crypto mining practices which can be being performed in the area. According to the reports issued by the vitality ministry of Kazakhstan, the nation’s electrical energy demand jumped 8% in 2021, fueling steady energy blackouts in the area. 

Posted In: Kazakhstan, Mining

CryptoSlate Newsletter

Featuring a abstract of a very powerful day by day tales in the world of crypto, DeFi, NFTs and extra.

Get an edge on the cryptoasset market

Access extra crypto insights and context in each article as a paid member of CryptoSlate Edge.

On-chain evaluation

Price snapshots

More context

Join now for $19/month Explore all advantages

Related posts

46% Bitcoin miners employ renewable energy sources to mine Bitcoin: BMC

Crypto Advisor

Marathon Digital to relocate Bitcoin mining facility to carbon neutral energy sources

Crypto Advisor

Shark Tank’s Kevin O’Leary plans to open his own mining operations this year

Crypto Advisor

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

bitcoin
Bitcoin (BTC) $ 19,128.10 0.96%
ethereum
Ethereum (ETH) $ 1,346.80 1.14%
tether
Tether (USDT) $ 1.00 0.03%
usd-coin
USD Coin (USDC) $ 1.00 0.09%
bnb
BNB (BNB) $ 267.87 1.16%
binance-usd
Binance USD (BUSD) $ 1.00 0.15%
cardano
Cardano (ADA) $ 0.451419 1.01%
xrp
XRP (XRP) $ 0.401714 5.30%
polkadot
Polkadot (DOT) $ 6.32 0.11%
solana
Solana (SOL) $ 31.93 1.35%
shiba-inu
Shiba Inu (SHIB) $ 0.000011 2.56%
dogecoin
Dogecoin (DOGE) $ 0.058834 0.35%
staked-ether
Lido Staked Ether (STETH) $ 1,334.66 1.25%
matic-network
Polygon (MATIC) $ 0.730936 2.64%
tron
TRON (TRX) $ 0.059729 1.13%
dai
Dai (DAI) $ 1.00 0.02%
avalanche-2
Avalanche (AVAX) $ 16.98 0.28%
ethereum-classic
Ethereum Classic (ETC) $ 28.85 3.49%
leo-token
LEO Token (LEO) $ 4.55 1.30%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 19,095.07 1.04%
uniswap
Uniswap (UNI) $ 5.42 0.81%
litecoin
Litecoin (LTC) $ 52.55 1.11%
cosmos
Cosmos Hub (ATOM) $ 14.31 5.17%
okb
OKB (OKB) $ 14.92 0.71%
ftx-token
FTX (FTT) $ 23.57 1.32%
terra-luna
Terra Luna Classic (LUNC) $ 0.000289 1.34%
near
NEAR Protocol (NEAR) $ 3.83 3.83%
chainlink
Chainlink (LINK) $ 6.99 2.47%
crypto-com-chain
Cronos (CRO) $ 0.104262 0.11%
monero
Monero (XMR) $ 142.34 0.18%
stellar
Stellar (XLM) $ 0.114425 0.25%
bitcoin-cash
Bitcoin Cash (BCH) $ 112.96 0.35%
algorand
Algorand (ALGO) $ 0.321989 5.80%
flow
Flow (FLOW) $ 1.68 0.02%
vechain
VeChain (VET) $ 0.022676 0.19%
eos
EOS (EOS) $ 1.30 1.49%
internet-computer
Internet Computer (ICP) $ 5.88 1.81%
filecoin
Filecoin (FIL) $ 5.31 2.05%
chain-2
Chain (XCN) $ 0.065881 5.98%
frax
Frax (FRAX) $ 0.997242 0.37%
hedera-hashgraph
Hedera (HBAR) $ 0.057989 0.05%
decentraland
Decentraland (MANA) $ 0.709896 1.89%
apecoin
ApeCoin (APE) $ 5.79 1.02%
the-sandbox
The Sandbox (SAND) $ 0.848342 0.68%
tezos
Tezos (XTZ) $ 1.45 3.78%
quant-network
Quant (QNT) $ 101.54 3.82%
axie-infinity
Axie Infinity (AXS) $ 12.29 1.14%
aave
Aave (AAVE) $ 76.11 0.60%
lido-dao
Lido DAO (LDO) $ 1.83 1.25%
elrond-erd-2
Elrond (EGLD) $ 47.56 1.30%
theta-token
Theta Network (THETA) $ 1.04 0.12%
true-usd
TrueUSD (TUSD) $ 1.00 0.11%
chiliz
Chiliz (CHZ) $ 0.228715 5.82%
bitcoin-sv
Bitcoin SV (BSV) $ 48.81 0.64%
compound-usd-coin
cUSDC (CUSDC) $ 0.022687 0.05%
paxos-standard
Pax Dollar (USDP) $ 0.997039 0.25%
kucoin-shares
KuCoin (KCS) $ 8.97 0.76%
bittorrent
BitTorrent (BTT) $ 0.00000078781508 1.04%
ecash
eCash (XEC) $ 0.000039 0.19%
the-graph
The Graph (GRT) $ 0.097512 2.66%
iota
IOTA (MIOTA) $ 0.258753 0.20%
zcash
Zcash (ZEC) $ 53.73 2.11%
huobi-btc
Huobi BTC (HBTC) $ 19,021.04 1.72%
usdd
USDD (USDD) $ 1.00 0.07%
huobi-token
Huobi (HT) $ 4.56 1.04%
evmos
Evmos (EVMOS) $ 2.54 4.90%
havven
Synthetix Network (SNX) $ 2.37 4.11%
cdai
cDAI (CDAI) $ 0.0221 0.05%
maker
Maker (MKR) $ 613.33 0.94%
bitdao
BitDAO (BIT) $ 0.488162 1.94%
klay-token
Klaytn (KLAY) $ 0.201213 0.82%
neutrino
Neutrino USD (USDN) $ 0.937615 1.57%
fantom
Fantom (FTM) $ 0.226239 1.18%
compound-ether
cETH (CETH) $ 27.10 0.92%
neo
NEO (NEO) $ 8.36 0.36%
helium
Helium (HNT) $ 4.54 2.85%
gatechain-token
Gate (GT) $ 4.17 0.07%
defichain
DeFiChain (DFI) $ 0.826216 1.33%
radix
Radix (XRD) $ 0.056396 2.40%
celsius-degree-token
Celsius Network (CEL) $ 1.44 1.42%
pax-gold
PAX Gold (PAXG) $ 1,669.48 0.45%
pancakeswap-token
PancakeSwap (CAKE) $ 4.35 0.65%
thorchain
THORChain (RUNE) $ 1.63 2.20%
osmosis
Osmosis (OSMO) $ 1.25 5.04%
zilliqa
Zilliqa (ZIL) $ 0.031638 1.40%
enjincoin
Enjin Coin (ENJ) $ 0.471326 2.58%
nexo
NEXO (NEXO) $ 0.895175 0.37%
arweave
Arweave (AR) $ 9.43 2.52%