BEIJING, Aug. 3, 2021 /PRNewswire/ -- Canaan Inc. (NASDAQ:
CAN) ("Canaan" or the "Company"),
a leading high-performance computing solutions provider, today
announced that it has received from HIVE Blockchain Technologies
Ltd. ("HIVE") a purchase order (the "Order") for 4,000 bitcoin
mining machines with an aggregate operating hash power of 272
Petahash per second ("PH/s"). According to the terms of the Order,
the Company will deliver the mining machines in two tranches over
the next 60 days, including 2,000 machines in August 2021 and 2,000 machines in September 2021.
This order is an addition to HIVE's previous order placed
earlier this year for 6,400 Canaan AvalonMiner 1246 Miners with an
aggregate operating hash power of 576 PH/s.
Headquartered in Vancouver,
Canada, HIVE is the first cryptocurrency mining company with
a green energy and ESG strategy. With data center facilities in
Canada, Sweden, and Iceland, HIVE aims to build a bridge between
traditional capital markets and the digital currency and blockchain
industry. HIVE is currently listed in the Toronto Stock Exchange,
Nasdaq Stock Market, and Frankfurt Stock Exchange.
Mr. Nangeng Zhang, Chairman and Chief Executive Officer of
Canaan, commented, "The order from
HIVE is a testament to the performance of our mining machines as
well as our ability to form long-term and mutually beneficial miner
relationships. With compelling computing power and impressive
cost-efficiency, we look forward to continued corporations with our
mining company clients to jointly capitalize the enormous
opportunities from the fast-growing cryptocurrency industry."
About Canaan Inc.
Established in 2013, Canaan
(NASDAQ: CAN), is a technology company focusing on ASIC
high-performance computing chip design, chip research and
development, computing equipment production and software services.
The company's vision is "super computing is what we do, social
enrichment is why we do". Canaan
has a rich experience in chip design and streamlined production in
the ASIC field. In 2013, it released and mass produced its first
ASIC Bitcoin mining machine. In 2018, Canaan released the world's first 7nm ASIC
chip, providing energy efficient computing equipment to the
cryptocurrency mining industry. In the same year, Canaan released the world's first RISC-V
architecture commercial edge AI chip, further harnessing the
potential of AISC technology in the field of high-performance
computing and artificial intelligence.
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
equipment; 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 in China; 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, including its registration
statement on Form F−1, as amended, and its annual reports on Form
20−F. 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 Contact
Canaan Inc.
Mr. Shaoke Li
Email: IR@canaan-creative.com
ICR Inc.
Robin Yang
Tel: +1 (347) 396-3281
Email: canaan.ir@icrinc.com
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SOURCE Canaan Inc.