A Canaan executive detailed the success of its pilot mining operations in Kazakhstan and shared plans to expand its operations to the U.S. in an interview.
“We believe that our self-operated bitcoin mining business will help us improve our financial performance as well as expand our business scope and customer base,” Zhang said at the time of the announcement.
“Mining in Kazakhstan is doing well and moving faster, and we expect big growth as well,” Edward Lu, a senior VP of Canaan reportedly said, per the Forkast report.
At that time, Canaan stated it would “continue to comply with applicable laws and regulations in both China and the U.S., and strive to maintain its listing status on NASDAQ.”
