Bitcoin ASIC Maker Canaan To Launch U.S. Mining Operations Today

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  • ASIC manufacturer Canaan is set to launch bitcoin mining operations in the U.S.
  • The company recently started self-mining in Kazakhstan where it has deployed over 10,000 miners.
  • Ending Q1 2022, the company earned $213 million in revenue and held almost 167 BTC, valued close to $4 million at press time.

Canaan, a global leader in bitcoin mining rig manufacturing based in China, is going to launch self- or joint-mining operations in the U.S., according to a report from Forkast.

Previously, the application-specific integrated circuit (ASIC) manufacturer announced its intentions to enter the bitcoin mining space with a pilot operation in Kazakhstan. At that time, Canaan chairman and CEO Nangeng Zhang expressed the need for the company to begin mining itself as a way to create additional revenue streams.

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