BEIJING, Dec. 15, 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 30,000 units of
its Avalon Bitcoin mining machines.
In August 2021, Canaan granted
Genesis Digital Assets an option to purchase up to 180,000
additional Bitcoin mining machines along with its original sales
contract of 20,000 machines. The Order represents the first
phase of this option exercised by Genesis Digital Assets and is
expected to be delivered in the first quarter of 2022.
Mr. Nangeng Zhang, Chairman and Chief Executive Officer of
Canaan, commented, "This substantial order by Genesis Digital
Assets reflects the continued success of our collaboration and
reinforces our long-term strategic partnership. Being a trusted
computing solution provider with solid delivery capabilities, we
have been supporting Genesis Digital Assets as they expand their
mining farms across multiple geographic regions around the world.
We are also pleased to work with clients like Genesis Digital
Assets to enhance renewable energy applications in mining. Together
with our clients, we are committed to building the infrastructure
of blockchains and share the long-term vision of the cryptocurrency
industry."
Abdumalik Mirakhmedov, Co-Founder and Executive Chairman of
Genesis Digital Assets, said, "We're pleased to see our strategic
partnership with Canaan continue to advance. This most recent order
of machines will support our efforts to rapidly scale our
operations as we work towards our goal of increasing our capacity
to 1.9 gigawatts by the end of 2023."
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 it." 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 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
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.