The Chinese Crypto mining rig maker Canaan has sent 2,000 Avalon mining rigs to Kazakhstan, according to a press release on Monday.
Canaan’s overseas-registered entity in Kazakhstan will commence operations with more batches expected to arrive throughout the week, the press release said.
Following China’s crackdown on cryptocurrency mining, miners have looked for greener pastures and Kazakhstan is one of those. The press release did not reveal what would power the new operations.
Meanwhile, the Kazakh government is working on new regulations to be able to provide settling miners with clarity.
While currently operating 32,000 terahash per second (TH/s) of computing power, Canaan plans to scale up to operationalize 1.8 exahashes per second in total, via a “near term” 850,00 TH/s, the press release stated. TH/
In June, the rig manufacturer already announced it would reorganize its operations strategically after China’s hard hand on the industry.
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Source: Igaming
