The Chinese manufacturer of Bitcoin mining equipment Canaan has opened its first overseas service center in Kazakhstan. Canaan said in a statement on Monday that the center will help provide local customers with services such as testing, machine maintenance, warranty service and technical advice.
Canaan's international customer base is truly expanding. 78% of Canaan's sales in the first quarter of 2021 came to the overseas market. This is a significant leap from the first quarter of 2020. Then the share of the foreign market was only 5%.
The crypto mining industry in Kazakhstan is booming thanks to one of the cheapest electricity rates in the country. The Cambridge Bitcoin Electricity Consumption Index showed that Kazakhstan is currently the fourth largest bitcoin mining country in the world.
Image: Happy coin club