BEIJING, Aug. 31, 2021 /PRNewswire/ -- Canaan Inc.
(NASDAQ: CAN) ("Canaan" or the "Company"), a leading
high-performance computing solutions provider, today announced that
it has secured a purchase order (the "Order") from Genesis Digital
Assets Limited ("Genesis Digital Assets"), a leading Bitcoin mining
firm with extensive experience in building and operating
industrial-scale Bitcoin mining data centers, for 20,000 of its
Bitcoin mining machines. In conjunction with the Order, Canaan has
granted Genesis Digital Assets an option to purchase up to 180,000
additional mining machines.
Mr. Nangeng Zhang, Chairman and Chief Executive Officer of
Canaan, commented, "Since we entered the long-term partnership with
Genesis Digital Assets earlier this year, both parties have reached
several great deals. This order with an option of future large
purchases further solidifies our collaborations and reflects both
parties' confidence in the prospects of the cryptocurrency mining
industry. All these mutually beneficial deals demonstrate the
quality of our products and our endeavors to deliver for clients,
despite the overall challenging supply chain conditions. We remain
diligent in helping miner clients expand their computing power
while generating value for our shareholders."
Abdumalik Mirakhmedov, Co-Founder and Executive
Chairman of Genesis Digital Assets, said: "The Bitcoin mining
machines from this latest purchase order are part of our on-going
efforts to rapidly scale our bitcoin mining operations in
North America and the Nordics
where we are focused on energy that comes from renewable sources.
These new machines will dramatically increase our capacity as we
work towards our goal to increase our capacity to 1.4 gigawatts by
the end of 2023."
About Genesis Digital Assets Limited
Genesis Digital Assets is one of the world's largest and most
experienced Bitcoin mining companies. Since 2013, founders of the
company have built over 20 industrial-scale mining farms, brought
over 300,000 miners online, and mined over US$1 billion in Bitcoin. As of August 2021, Genesis Digital Assets data center
capacity is at over 170 megawatts, translating into a total
hashrate exceeding 3.1 Exahashes (EH/s), which is more than 2.4% of
the global Bitcoin mining hashrate.
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 ASIC 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, LLC
Robin Yang
Tel: +1 (347) 396-3281
Email: canaan.ir@icrinc.com
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SOURCE Canaan Inc.