Bitcoin miner maker Canaan opens overseas service center in Kazakhstan

Chinese bitcoin mining {hardware} producer Canaan has arrange its first overseas after-sales service center in Kazakhstan.

In an announcement shared with The Block on Monday, Canaan stated the center would assist present native clients after-sales providers resembling machine testing and upkeep, guarantee providers, and technical consultations.

“The institution of the service center in Kazakhstan is strategic in increasing our after-sales geographical protection and offering quicker and simpler entry to help our rising worldwide buyer base,” stated Canaan chairman and CEO Nangeng Zhang.

Canaan’s world buyer base is certainly increasing. As The Block reported final week, 78% of Canaan’s Q1 2021 gross sales got here from the overseas market. That is a big bounce from Q1 2020 when the share of its overseas market was simply round 5%.

As for Kazakhstan, its crypto mining trade is booming, because of one of many least expensive electrical energy charges in the nation. Kazakhstan is presently the fourth-largest bitcoin mining nation in the world, with a 6% share in the worldwide bitcoin hash charge, in keeping with Cambridge Bitcoin Electricity Consumption Index. Canaan itself is preparing to launch a crypto mining enterprise in Kazakhstan.

Last September, Kazakhstan was looking to appeal to investments price 300 billion tenge (over $700 million) into its home mining sector.

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