Concerned over shutting down of Bitcoin mining facilities in China, China’s biggest and one of the world’s largest manufacturers of Bitcoin mining rigs has decided to take its manufacturing plant into Kazakhstan – the biggest non-coastal state of the world. Already the company has shipped its state-of-the-art leading product, Avalonminer, into Kazakhstan.
There is no hidden truth that China is currently carrying out a massive operation against crypto miners. In particular, the operation has been aimed hugely towards the Bitcoin mining industry. This has led many Bitcoin miners in China to think seriously about the issues. Most of them have finally decided to move on from the Chinese territories and establish a settlement in crypto-friendly areas.
Already a few of China’s famous Bitcoin miners have wrapped up their mining facilities in China and settling in other territories. There are also few miners who are exploring the possibility of establishing their facilities in the neighboring countries. For this, they have found Kazakhstan as one of the best countries where there are currently no issues with regard to the mining industry. In addition, Kazakhstan is an entirely non-coastal country and apparently is the largest landlocked state in the world.
Now the mining industry’s biggest name, which is of Chinese origin, has too decided to shift its mining facility from China. This very company is known by the name “Canaan” which is currently the world’s highest mining rigs producing company. So much so, for the past 6 months, the company has been able to double the rate of its manufacturing as well as its sales. Within a period of the last three months, it has been able to sell more than 10 thousand Bitcoin mining rigs to multiple companies. It was also announced by the company that the revenue generated shall be utilized towards the company’s expansion.
Canaan has some of the best mining rigs models available with it which are famous around the world. For instance, its Avalonminer model mining rigs are currently the number one mining rigs in the world. Because of this model, the global mining industry has been placing orders for purchasing Canaan’s mining rigs into multiple thousands. However, the situation with Canaan in China is no different from the others. Canaan is also fearing that sooner or later, the Government will come after it as well. However, there are multiple shipment orders which are pending delivery very soon. In case the facility’s operations are suspended, then Canaan will be forced to retract from its commitments with its customers.
In order to avoid any such situation, Canaan too has decided that it will be shifting its manufacturing plant in Kazakhstan. For the time being, the plant in Kazakhstan will only be producing Avalonminers. However, in the long run, there is a possibility that the overall plant will be shifted into Kazakhstan.