Canaan Reveals Plans to Open Service Center in Kazakhstan

Amidst the continuous clampdown on the cryptocurrency miners by the government in Beijing, Canaan, one of the world’s biggest producers of crypto mining equipment, has revealed its plans to open its service center outside mainland China, in neighboring Kazakhstan, the company statement confirmed.

Some of the services that the tech firm aims to provide in the country include equipment maintenance, consultations, machine testing, and, most importantly, warranty services.

A media outlet quoted anonymous sources and reported that the uncertain miners in the Asian country are now moving their equipment “overnight” to Kazakhstan.

As the government is cracking down on the miners, Kazakhstan is becoming a new hub for BTC miners. Interestingly, the country accounted for almost six percent of the total global mining activity in April.

Low energy rates, proximity to Beijing, and cold climate in Kazakhstan are some of the few factors attracting new miners. Mostly, a cold location is suitable for the miners as it helps them save thousands of bucks in cooling systems and their maintenance.

On the other hand, the miner in the US is taking advantage of the changing shift in the mining industry. Texas, an American state, is becoming the new hub for miners, thanks to its crypto-friendly laws and low energy rates.

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