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 vice chairman of Canaan, advised Forkast in an interview on Thursday.
- “At this time 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 properly,” Lu mentioned, including that the U.S. is within the pipeline for each gross sales and mining.
- In January, Canaan mentioned it had deployed over 10,000 mining machines in Kazakhstan.
- “Mining in Kazakhstan is doing properly and transferring sooner, and we count on huge progress as properly,” Lu mentioned.
- Regardless of logistical points and provide chain disruptions from the pandemic, Canaan booked 236.7% year-on-year income progress within the first quarter of this yr, and its internet revenue expanded to 441.6 million yuan (US$65.5 million) from 1.2 million yuan (US$177,875) in the identical interval final yr, in accordance with its earnings report.
- In Could, the Securities and Change Fee put Nasdaq-listed Canaan on a pre-delisting checklist amid the U.S.-China dispute over audit working papers, and the corporate mentioned it will “proceed to adjust to relevant legal guidelines and rules in each China and the U.S.”