BigONE’s View: Canaan landing in Kazakhstan, Bitcoin has unlimited momentum
Canaan (Canaan Technology) is one of the largest Bitcoin mining machine manufacturers in the world. It just landed in Kazakhstan and established a base of operations to pursue the digital currency mining business. The company said it is diversifying its business to Bitcoin mining and continues to sell mining equipment. It has also begun to deploy its latest Avalon Miner equipment to help improve its financial performance. Zhang Nan said that Canaan would try to expand the business scope and client base. After the governments of various countries stopped the Bitcoin mining business due to policy and environmental protection reasons, the global computing power of Bitcoin plummeted by nearly half, and the price of Bitcoin fell to 32,000 U.S. dollars. From BigONE’s point of view, Canaan’s operations will directly affect the recovery of Bitcoin’s entire network computing power and provide strong support for the recovery of Bitcoin’s price.
BigONE understands that Canaan is integrating more industry resources. We believe that with the addition of more business sectors, Canaan’s mining machine sales business will sweep away the previous decline, and its goal should be to protect future declines, avoid the impact of Bitcoin price fluctuations and ensure that Bitcoin miners can purchase higher-quality mining machines when the market improves.
BigONE believes that establishing the Canaan operating base in Kazakhstan is only the beginning, and more mining companies will settle here in the future. Once the miners regain their capabilities, the computing power of the entire Bitcoin network will definitely increase. It would be wonderful news for Bitcoin. An increase in the currency’s price is sufficient to propel it.
We can see that the future of BTC will continue to be vibrant.
Although the recent currency market has shown a bear market posture, BigONE hopes everyone can stick to their bottom line and investment rhythm and not blindly invest to avoid losses.
Not only does BigONE provide asset security, but you can also contact us anytime if you have any questions.
About BigONE
BigONE is a global cryptocurrency exchange that provides a platform for trading various cryptocurrencies. It was founded in 2017 and registered in the Netherlands. The group operates in Russia, Brazil, Vietnam, Seychelles, Singapore, Japan, and Indonesia, providing marketing, investment, and blockchain technology research & development.
