BEIJING, Jan. 4, 2022 /PRNewswire/ -- Canaan Inc. (NASDAQ:
CAN) ("Canaan" or the "Company"), a leading high-performance
computing solutions provider, today announced that it has
entered into strategic collaboration agreements with multiple
crypto mining firms for joint-mining business in Kazakhstan.
On December 22, 2021, the Company successfully launched the
last batch of mining machines online under its first phase of
deployment in Kazakhstan. As of
December 31, 2021, the Company had an
aggregate of 10,300 AvalonMiner units in mining operations in the
country. The Company continues to deploy additional computing power
according to its mining business expansion plan.
Mr. Nangeng Zhang, Chairman and Chief Executive Officer of
Canaan, commented, "The deployment of over 10,000 mining machines
not only deepens our collaboration with leading local mining farms,
but also marks our great strikes in our cultivation of the
Bitcoin mining business. As we expand our involvement further down
the Bitcoin value chain, we are enhancing the depth and width of
our global presence while solidifying our business operations.
Joining hands with mining firms, we are excited to leverage each of
our respective strengths and resources to maximize profits and
capitalize on the growth of the digital assets 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 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, as amended. 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.