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home / news releases / CAN - Canaan delivers 2000 mining rigs to its Kazakhstan for its crypto mining ops

CAN - Canaan delivers 2000 mining rigs to its Kazakhstan for its crypto mining ops

Canaan Inc.
Canaan (NASDAQ:CAN), a Beijing-based maker of bitcoin mining equipment,  delivered 2,000 of its Avalon mining rigs to Kazakhstan, CoinDesk reports, citing a press release. The delivery comes after Canaan (CAN) had announced in June that it would diversify its mining business into Kazakhstan, given China's move to outlaw bitcoin mining and trading. After the delivery, Canaan's overseas-registered unit in Kazakhstan will start joint operations and expects more mining equipment to arrive throughout the week, the article said. The company plans to operate 850,000 terahash per second "in the near term" and currently operates 32,000 TH/s. Previously (Oct. 29), Canaan nabs follow-on purchase order from HIVE.

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Canaan delivers 2,000 mining rigs to its Kazakhstan for its crypto mining ops
Stock Information
Company Name: Canaan Inc.
Stock Symbol: CAN
Market: NASDAQ
Website: canaan-creative.com
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