{"id":65073,"date":"2022-07-29T14:14:36","date_gmt":"2022-07-29T11:14:36","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=65073"},"modified":"2025-09-06T17:58:30","modified_gmt":"2025-09-06T14:58:30","slug":"canaan-to-begin-bitcoin-mining-in-the-united-states","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/canaan-to-begin-bitcoin-mining-in-the-united-states\/","title":{"rendered":"Canaan to begin Bitcoin mining in the United States"},"content":{"rendered":"

Bitcoin mining equipment maker Canaan plans to open a cryptocurrency mining facility in the United States. This was disclosed by the company’s vice president Edward Lu in an interview with Forkast<\/a>.<\/p>\n

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“Current income from solo or pooled mining is coming from Kazakhstan, but you will soon see other markets,” Lu said.<\/p>\n<\/blockquote>\n

The firm launched Bitcoin mining<\/a> in a Central Asian country in June 2021, gradually expanding capacity<\/a>.<\/p>\n

\n

“Mining in Kazakhstan is going well and growing faster than expected,” said a senior Canaan executive.<\/p>\n<\/blockquote>\n

According to Lu, the next step is a presence in the United States, both for mining cryptocurrencies and for selling equipment.<\/p>\n

In April, while presenting the new ASIC miner<\/a> Bitcoin Avalon 1266, the vice president said he planned to explore opportunities for the business in various states across the country.<\/p>\n

In May, the US Securities and Exchange Commission added Canaan<\/a> to a preliminary list of Chinese companies subject to delisting on American exchanges due to discrepancies in audit reports.<\/p>\n

The manufacturer then said that it “will continue to comply with applicable laws and regulations in both China and the United States.”<\/p>\n

As of writing, Canaan’s shares were still trading on Nasdaq. The pre-market valued the stock at $4.29.<\/p>\n

The company was the first among miners to go public, listing 10 million ADS<\/span> at $9 in November 2019. The stock had fallen to below $2 in the summer\u2013autumn 2020.<\/p>\n

\"Canaan
Source: MarketWatch<\/a>.<\/figcaption><\/figure>\n

In the first quarter, Canaan reported gross profit of $130.9 million. The figure rose year over year by 327%<\/a>, and the company noted the mining business’s contribution to its growth.<\/p>\n

Follow ForkLog’s Bitcoin news on our Telegram<\/a> \u2014 cryptocurrency news, prices, and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin mining equipment maker Canaan plans to open a cryptocurrency mining facility in the United States. This was disclosed by the company’s vice president Edward Lu in an interview with Forkast.<\/p>\n","protected":false},"author":1,"featured_media":65074,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[845,1137],"class_list":["post-65073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-canaan","tag-cryptocurrency-mining"],"aioseo_notices":[],"amp_enabled":true,"views":"24","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/65073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=65073"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/65073\/revisions"}],"predecessor-version":[{"id":65075,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/65073\/revisions\/65075"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/65074"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=65073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=65073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=65073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}