Home News Canaan delivered 2000 Avalon Bitcoin miners to Kazakhstan

Canaan delivered 2000 Avalon Bitcoin miners to Kazakhstan

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The Chinese company Canaan reported on the delivery of a large batch of Avalon Bitcoin (BTC) miners to Kazakhstan.

Thus, according to CoinDesk, we are talking about 2000 devices. In the near future, the miners will be put into operation. Now the total capacity of the equipment is 32,000 TH/s. In the future Canaan plans to “put into operation 850,000 TH/s”.

In June, the company announced the opening of an after-sales service center and started Bitcoin mining in Kazakhstan.

One of the world leaders in terms of computing power

In the third quarter of 2021, the revenue of the miner manufacturer Canaan amounted to a record $204.5 million. This is 708.2% more than in the same period last year and 21.8% higher than the result of the second quarter. In the second quarter of 2021, the profit of computer hardware manufacturer Canaan amounted to $167.5 million. 

Amid the background of the tightening rhetoric of the Chinese authorities; in relation to the mining of cryptocurrencies, many companies began to place their equipment in Kazakhstan.

According to the Cambridge Centre for Alternative Finance, the country has become one of the world leaders in terms of computing power in the Bitcoin network. In Kazakhstan, it increased from 7.4% to 18.1%, and in Canada – from 4.7% to 9.6%.

A tax levy of 1 tenge per kilowatt per hour

Recall that due to this background, electricity consumption in Kazakhstan has significantly increased. Therefore, local authorities have proposed to limit the consumption of mining data centers in case of a shortage of electricity. If the regulators will adopt the changes, then from January 2022 a tax levy of 1 tenge per kilowatt per hour will come into force.

Earlier in November, the head of the Ministry of Energy Magzum Myrzagaliev stressed that mining farms that comply with the requirements of the legislation will not be restricted.

“Given the high potential of the blockchain industry, it is necessary to combine efforts for its further development. I am a supporter of dialogue. So I call on the “white” miners to jointly search for solutions to ensure the reliability of the unified electric power system,” Myrzagaliev said.

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