Chinese language crypto mining rig maker Canaan is ramping up its mining enterprise and can quickly begin self- or joint-mining operations within the U.S., Edward Lu, a senior vp of Canaan, advised Forkast in an interview on Thursday.
Quick information
- “As we speak the true output, or income, coming from self-mining or joint-mining, are coming from Kazakhstan in the mean time, and shortly you’ll see different markets as nicely,” Lu stated, including that the U.S. is within the pipeline for each gross sales and mining.
- In January, Canaan stated it had deployed over 10,000 mining machines in Kazakhstan.
- “Mining in Kazakhstan is doing nicely and transferring quicker, and we anticipate massive development as nicely,” Lu stated.
- Regardless of logistical points and provide chain disruptions from the pandemic, Canaan booked 236.7% year-on-year income development within the first quarter of this 12 months, and its web earnings expanded to 441.6 million yuan (US$65.5 million) from 1.2 million yuan (US$177,875) in the identical interval final 12 months, in keeping with its earnings report.
- In Might, the Securities and Alternate Fee put Nasdaq-listed Canaan on a pre-delisting record amid the U.S.-China dispute over audit working papers, and the corporate stated it could “proceed to adjust to relevant legal guidelines and laws in each China and the U.S.”
