Canaan To Mine Bitcoin Itself In Kazakhstan

Bitcoin mining rig manufacturer Canaan, one of the largest mining hardware providers worldwide, has announced that it is making its first foray into mining bitcoin itself by setting up mining operations in Kazakhstan.

“We believe that our self-operated Bitcoin mining business will help us improve our financial performance as well as expand our business scope and customer base,” Canaan chairman and CEO Nangeng Zhang said in the announcement. “As we integrate more industry resources into our operations, we believe this business segment will enable us to revitalize our mining machine inventory, shield us from bitcoin volatility and ensure our inventory sufficiency during market upturns.”

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