Canaan Bitcoin Mining Establishes a Base of Operations in Kazakhstan!

  Canaan Bitcoin Mining Establishes a Base of Operations in Kazakhstan! Canaan has started shipping the newest version of Avalon Miner units! Seeking to expand its business scope and customer base, the firm is one of the industry's largest manufacturers of bitcoin (BTC, +3.99%) mining machinery and is strengthening its mining operations by establishing a base in Kazakhstan. In a statement Wednesday, the company announced that it continues to diversify its operations in bitcoin mining and strengthen mining rig equipment to help improve its financial performance. "Canaan will also seek to expand its business scope and customer base," said CEO Nangeng Zhang, as the company began distributing its newest Avalon Miner units!

Canaan has started shipping the newest version of Avalon Miner units!

“As more industrial resources are integrated into operations, the mining machinery inventory will strengthen. We believe that it will protect our company from bitcoin fluctuations and ensure inventory adequacy during the market boom.” he continued. Chinese manufacturer ASIC mining, originally listed on the Nasdaq, pointed out that demand skyrocketed during boom times as more mining businesses sought to capitalize on bitcoin's rising price. Despite this, the company said it only hopes revenues from the sale of gear don't fall as the price of bitcoin gets worse.  

Source: Coindesk

 

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