Bitcoin mining hardware maker Canaan opens new service center in Kazakhstan

Chinese bitcoin mining hardware manufacturer Canaan has set up its first overseas after-sales service center in Kazakhstan.

In a statement shared with The Block on Monday, Canaan said the center would help provide local customers after-sales services such as machine testing and maintenance, warranty services, and technical consultations.

“The establishment of the service center in Kazakhstan is strategic in expanding our after-sales geographical coverage and providing faster and easier access to support our growing international customer base," said Canaan chairman and CEO Nangeng Zhang.


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Canaan's global customer base is indeed expanding. As The Block reported last week, 78% of Canaan's Q1 2021 sales came from the overseas market. That is a significant jump from Q1 2020 when the share of its overseas market was just around 5%.

As for Kazakhstan, its crypto mining industry is booming, thanks to one of the cheapest electricity rates in the country. Kazakhstan is currently the fourth-largest bitcoin mining country in the world, with a 6% share in the global bitcoin hash rate, according to Cambridge Bitcoin Electricity Consumption Index. Canaan itself is preparing to launch a crypto mining business in Kazakhstan.

Last September, Kazakhstan was looking to attract investments worth 300 billion tenge (over $700 million) into its domestic mining sector.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.