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.
Canaan Secures Mining Agreements With Companies in Kazakhstan
China-rooted producer of coin minting equipment, Canaan, has announced it has entered into collaboration agreements with multiple crypto mining companies in Kazakhstan. Amid an ongoing crackdown on the crypto mining industry in the People’s Republic, the Central Asian country has become a magnet for miners with its low electricity rates and generally friendly attitude.
In a press release published on Tuesday, the company revealed