Provides 2000 A15 Hydro Bitcoin
mining machines in initial order
Continues global
expansion with addition of new customer
SINGAPORE, Dec. 12,
2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN)
("Canaan" or the "Company"), a leading high-performance computing
solutions provider, today announced that Canaan Creative
Global Pte. Ltd. ("CCG"), a wholly
owned Singapore subsidiary of the Company, has entered
into a purchase agreement with AGM Group Holdings Inc. ("AGMH"), an
integrated technology company specializing in fintech software
services and production of high-performance hardware and computing
equipment, for its Avalon A15 HydU 370T ("A15 Hydro") mining
machines.
As part of the agreement, Canaan will initially provide 2,000
Bitcoin mining machines to AGMH. The Company has also
agreed to provide its customer with an option to acquire
approximately 30,000 additional BTC mining units, potentially
providing AGMH with a combined power capacity not exceeding 300
megawatts.
The Avalon Miner A15 Hydro enhances the miner's performance and
lifespan while reducing energy consumption and noise pollution,
aligning with Canaan's ESG (Environmental, Social, and Governance)
strategy.
About Canaan Inc.
Established in 2013, Canaan
Inc. (NASDAQ: CAN), is a technology company focusing
on ASIC high-performance computing chip
design, chip research and development, computing equipment
production, and software services. Canaan has extensive experience
in chip design and streamlined production in
the ASIC field. In 2013, Canaan's founding
team shipped to its customers the world's first batch of mining
machines incorporating ASIC technology
in bitcoin's history under the brand name Avalon.
In 2019, Canaan completed its initial public offering on the Nasdaq
Global Market. To learn more about Canaan, please
visit https://www.canaan.io/.
Safe Harbor Statement
This announcement contains
forward−looking statements. These statements are made under the
"safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward−looking statements can
be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates" and similar statements. Among other things, the
business outlook and quotations from management in this
announcement, as well as Canaan Inc.'s strategic and
operational plans, contain forward−looking statements. Canaan
Inc. may also make written or oral forward−looking statements
in its periodic reports to the U.S. Securities and Exchange
Commission ("SEC") on Forms 20−F and 6−K, in its annual report
to shareholders, in press releases and other written materials and
in oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about Canaan Inc.'s beliefs and expectations,
are forward−looking statements. Forward−looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward−looking statement, including but not limited to the
following: the Company's goals and strategies; the Company's future
business development, financial condition and results of
operations; the expected growth of
the bitcoin industry and the price
of bitcoin; the Company's expectations regarding
demand for and market acceptance of its products, especially
its bitcoin mining machines; the Company's
expectations regarding maintaining and strengthening its
relationships with production partners and customers; the Company's
investment plans and strategies, fluctuations in the Company's
quarterly operating results; competition in its industry; and
relevant government policies and regulations relating to the
Company and cryptocurrency. Further information
regarding these and other risks is included in the Company's
filings with the SEC. All information provided in this press
release and in the attachments is as of the date of this press
release, and Canaan Inc. does not undertake any
obligation to update any forward−looking statement, except as
required under applicable law.
Investor Relations Contacts
Canaan Inc.
Xi Zhang
Email: IR@canaan-creative.com
ICR, LLC.
Robin Yang
Tel: +1 (347) 396-3281
Email: canaan.ir@icrinc.com
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SOURCE Canaan Inc.