Canaan will start Bitcoin mining in the USA

CANAAN mining equipment manufacturer plans to open an enterprise for cryptocurrency mining in the United States. About this the vice president of the company Edward Lu reported in an interview with FORKAST.

“Now the real income from independent or joint mining comes from Kazakhstan, but soon you will see other markets,” Lou said.

The company launched Bitcoin’s prey in the Central Asian country in June 2021, gradually expanding the capacity.

“Mining in Kazakhstan goes well and is growing faster than expectations,” said Canaan top manager.

According to Lou, in line – the presence in the United States, both for the extraction of cryptocurrencies and for sales of equipment.

In April, representing the new Avalon 1266 Bitcoin ASIC, Vice President announced plans to study business opportunities in various states of the country.

In May, the US Securities and Exchange Commission included Canaan in the preliminary list of Chinese companies to be divided on American exchanges due to the inconsistency of audit reports to standards.

The manufacturer then stated that “will continue to comply with the current laws and rules both in China and in the USA”.

At the time of writing the Canaan stock is still traded on Nasdaq. The premarket evaluates papers at $ 4.29 DCentral Сon: Miami .

The company of the first miner manufacturers reached the exchange, placing 10 million ADS in November 2019 at a price of $ 9. To the minimum stamps below $ 2, paper quotes fell in the summer and autumn of 2020.

Recall that in the first quarter the Canaan received a gross profit of $ 130.9 million. The indicator increased by 327%by a year, and the company noted the contribution of the mining business to its growth.

Read the FORKLOG Bitcoin News in our Telegram-cryptocurrency news, courses and analytics.