Bitcoin
$37,821.90-0.85%
Ethereum
$2,035.39-1.24%
Binance Coin
$225.74-1.41%
XRP
$0.60526962-1.35%
Solana
$59.96+1.07%
Cardano
$0.37715936-2.26%
Dogecoin
$0.08143987+0.70%
Tron
$0.10424322+0.17%
Toncoin
$2.45-0.32%
Chainlink
$14.45-2.18%
Avalanche
$20.96-1.17%
Polygon
$0.75849220+0.29%
PlayIconNav
Crypto Prices CoinDesk Market Index CoinDesk Market Index
Finance

ASIC Maker Canaan Delivers 2,000 Mining Rigs to Kazakhstan

Canaan plans to deploy 850,000 TH/s in the near term.

By Eliza Gkritsi
AccessTimeIconNov 22, 2021 at 10:24 a.m. UTC
Updated May 11, 2023 at 5:51 p.m. UTC
CoinDesk placeholder image

10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Crypto mining rig maker Canaan delivered 2,000 Avalon mining rigs to Kazakhstan, according to a press release shared with CoinDesk on Monday.

  • The Chinese rig manufacturer announced in June that it would be diversifying its mining business in Kazakhstan in the wake of China’s crackdown on the industry.
  • Following the delivery, Canaan’s overseas-registered entity in Kazakhstan will start joint operations, and expects more batches to arrive throughout the week, the press release said.
  • The company currently operates 32,000 terahash per second (TH/s) of computing power and plans to operationalize 850,000 TH/s “in the near term,” according to the press release.
  • Canaan plans to deploy 1.8 exahashes per second in total, said CEO and chairman Nangeng Zhang on its Q3 earnings call according to The Block.
  • Kazakhstan has been working on new regulation to deal with the influx of miners following the crackdown in China.

Read more: Kazakhstan’s Crypto Miners Face New Regulations After Contributing to Power Shortages

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish, a cryptocurrency exchange, which in turn is owned by Block.one, a firm with interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets including bitcoin and EOS. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Eliza Gkritsi
Eliza Gkritsi

Eliza Gkritsi is a CoinDesk contributor focused on the intersection of crypto and AI.

Follow @egreechee on Twitter

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.