Canaan expands its coin minting operations in Kazakhstan through partnerships with mining firms.
Hardware manufacturer Canaan is expanding its crypto mining operations in Kazakhstan. The company is now cooperating with a number of mining firms there and has already deployed over 10,000 pieces of hardware despite the country’s challenges with electricity supply. Increased energy prices have also provoked protests that could potentially affect the industry.
As of December 31, 2021, the Company had an aggregate of 10,300 AvalonMiner units in mining operations in the country.
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