Canaan To Launch US Bitcoin Mining Operations – Bitcoin Journal

  • ASIC producer Canaan is ready to launch bitcoin mining operations within the U.S.
  • The corporate just lately began self-mining in Kazakhstan the place it has deployed over 10,000 miners.
  • Ending Q1 2022, the corporate earned $213 million in income and held virtually 167 BTC, valued near $4 million at press time.

Canaan, a world chief in bitcoin mining rig manufacturing primarily based in China, goes to launch self- or joint-mining operations within the U.S., in line with a report from Forkast.

Beforehand, the application-specific built-in circuit (ASIC) producer introduced its intentions to enter the bitcoin mining house with a pilot operation in Kazakhstan. At the moment, Canaan chairman and CEO Nangeng Zhang expressed the necessity for the corporate to start mining itself as a method to create extra income streams.