{"id":210312,"date":"2022-01-06T01:00:20","date_gmt":"2022-01-06T01:00:20","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=210312"},"modified":"2022-01-05T16:13:23","modified_gmt":"2022-01-05T16:13:23","slug":"canaan-expands-crypto-mining-operations-in-kazakhstan","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/canaan-expands-crypto-mining-operations-in-kazakhstan\/","title":{"rendered":"Canaan expands crypto mining operations in Kazakhstan"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Canaan, which is a leading Bitcoin mining hardware company, announced its strategic collaboration with crypto mining firms in Kazakhstan to bolster the joint mining business in the region.\u00a0<\/span><\/p>\n<h2><b>Canaan enters into strategic alliances with Kazakh crypto mining firms<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Canaan on Tuesday <\/span><a href=\"https:\/\/www.prnewswire.com\/news-releases\/canaan-expands-its-mining-operations-with-deployment-of-over-10-000-mining-machines-301453302.html\"><span style=\"font-weight: 400;\">announced<\/span><\/a><span style=\"font-weight: 400;\"> that it had successfully deployed 10,300 AvalonMiner units in Kazakhstan. As of December 31st, 2021, the company had officially finalized phase one of its deployment trajectory in the region.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">According to the <a href=\"https:\/\/www.prnewswire.com\/news-releases\/canaan-expands-its-mining-operations-with-deployment-of-over-10-000-mining-machines-301453302.html\">press <\/a><\/span><span style=\"font-weight: 400;\">release, Canaan will be entering into strategic alliances with multiple crypto mining firms as part of its expansion plan. The company, however, has not listed the names of any local firms that it intends to collaborate with.\u00a0<\/span><\/p>\n<blockquote><p><span style=\"font-weight: 400;\">&#8220;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.&#8221; As stated by Nangeng Zhao, Chairman, and CEO of Canaan.\u00a0<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400;\">Founded in 2013, Canaan is a Nasdaq-listed Bitcoin mining manufacturer company that focuses on ASIC high-performance computing chip design and research to spearhead the development of crypto mining equipment.\u00a0\u00a0<\/span><\/p>\n<h2><b>Kazakhstan emerges as a leading spot for stranded Bitcoin miners<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Kazakhstan has emerged as <\/span><a href=\"https:\/\/intellinews.com\/how-kazakhstan-shot-to-number-three-in-the-crypto-mining-industry-221200\/\"><span style=\"font-weight: 400;\">one<\/span><\/a><span style=\"font-weight: 400;\"> of the top spots for Bitcoin mining, after Russia and the USA. Following crypto clampdown in China, many ousted Bitcoin miners found refuge in Kazakhstan, where the region's cheap electricity prices acted as a catalyst for them to mine Bitcoin with minimum external intervention.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The prices of electricity in Kazakhstan are the lowest as compared to other countries. The <\/span><a href=\"https:\/\/www.globalpetrolprices.com\/electricity_prices\/\"><span style=\"font-weight: 400;\">average<\/span><\/a><span style=\"font-weight: 400;\"> electricity consumption in the region amounts to nearly $0.041 per kWh for households.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Recently, the country has also been facing frequent electricity shortages owing to <\/span><a href=\"https:\/\/cryptoslate.com\/kazakhstan-struggles-to-accommodate-new-bitcoin-miners-amid-energy-crisis\/\"><span style=\"font-weight: 400;\">extensive<\/span><\/a><span style=\"font-weight: 400;\"> crypto mining practices that are being conducted in the region. According to the <\/span><a href=\"https:\/\/www.google.com\/amp\/s\/www.engadget.com\/amp\/cryptocurrency-mining-kazakhstan-power-cuts-211139867.html\"><span style=\"font-weight: 400;\">reports<\/span><\/a><span style=\"font-weight: 400;\"> issued by the energy ministry of Kazakhstan, the country's electricity demand jumped 8% in 2021, fueling continuous power blackouts in the region.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canaan, which is a leading Bitcoin mining hardware company, announced its strategic collaboration with crypto mining firms in Kazakhstan to bolster the joint mining business in the region.\u00a0 Canaan enters into strategic alliances with Kazakh crypto mining firms Canaan on Tuesday announced that it had successfully deployed 10,300 AvalonMiner units in Kazakhstan. As of December [&hellip;]<\/p>\n","protected":false},"author":824,"featured_media":210418,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2376],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Canaan expands crypto mining operations in Kazakhstan<\/title>\n<meta name=\"description\" content=\"The Bitcoin mining hardware manufacture company has announced new joint crypto mining businesses in Kazakhstan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/canaan-expands-crypto-mining-operations-in-kazakhstan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canaan expands crypto mining operations in Kazakhstan\" \/>\n<meta property=\"og:description\" content=\"The Bitcoin mining hardware manufacture company has announced new joint crypto mining businesses in Kazakhstan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/canaan-expands-crypto-mining-operations-in-kazakhstan\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2022-01-06T01:00:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-01-05T16:13:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2022\/01\/canaan-kazakhstan-mining.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Juhi Mirza\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Juhi Mirza\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/canaan-expands-crypto-mining-operations-in-kazakhstan\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/canaan-expands-crypto-mining-operations-in-kazakhstan\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/juhi-mirza\/#person\",\"name\":\"Juhi Mirza\",\"url\":\"https:\/\/cryptoslate.com\/author\/juhi-mirza\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/juhi-mirza\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/juhi-mirza\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/10\/juhi-mirza-author-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2021\/10\/juhi-mirza-author-300x300.jpg\",\"caption\":\"Juhi Mirza\"},\"description\":\"Juhi Mirza is an archaeology major who is obsessive about blockchain\/Crypto technology and deems it to be the foundational philosophy of the future. 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