As China’s crackdown on Bitcoin mining forces many miners to relocate to more hospitable shores, Canaan Inc. — one of the largest crypto mining equipment manufacturers in the world — is opening its first after-sales service center outside of mainland China, in neighboring Kazakhstan, according to a company announcement on Twitter.
Fast Facts:
- Canaan’s services to its customers in Kazakhstan will include machine testing, warranty services, machine maintenance and technical consultations.
- Wired recently reported via an anonymous source familiar with China’s Bitcoin mining industry that panicked miners have been transporting their machines to Kazakhstan “overnight.”
- As of April 2020, Kazakhstan accounted for just over 6% of global bitcoin mining. Cheap electricity, a cold climate and proximity to China lead to it being an excellent location for miners, both existing and those looking to relocate. A cold climate is desirable for miners as the costs of cooling systems for mining rigs are greatly reduced.
- Canaan is a leading manufacturer of such rigs, known as application-specific integrated circuit (ASIC) machines.