Canaan Announces Significant Customer Order of 11,760 Bitcoin Mining Machines
April 22 2021 - 7:00AM
Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading
high-performance computing solutions provider, today announced that
it entered into a contract to provide 11,760 bitcoin mining
machines to Mawson Infrastructure Group Inc. (“Mawson”). Under the
contract, Canaan will ship and install its A1246 ASIC AvalonMiners
throughout 2021, adding a total of 1.05EH to Mawson’s global mining
operations.
Headquartered in Sydney, Australia, Mawson is a
global digital infrastructure provider publicly traded in the
United States under the ticker symbol, WIZP. Mawson currently
conducts its bitcoin mining operations in both the United States
and Australia.
Mr. Nangeng Zhang, Chairman and Chief Executive
Officer of Canaan, commented, “Our contract with Mawson is a strong
validation of our product quality, technology superiority, and
supply reliability. We look forward to forging a long-term
relationship with Mawson and supporting the growth of its bitcoin
mining operations around the world.”
About Mawson Infrastructure Group
Inc. Mawson Infrastructure Group Inc. (“Mawson”) is a
digital infrastructure provider with diversified operations across
cryptocurrency mining and digital asset
management. Headquartered in Sydney, Australia, and operating
across the USA and Australia, Mawson's mission is to build a bridge
between the rapidly emerging digital asset industry and traditional
capital markets, with a strong focus on shareholder returns. Mawson
matches energy infrastructure with next-generation mobile data
center solutions, enabling the proliferation of blockchain
technology.
About Canaan Inc.Established in
2013, Canaan Inc. provides high-performance computing solutions to
efficiently solve complex problems. In 2016, Canaan successfully
initiated the production of its first 16nm chip and passed the test
to receive China's national high-tech enterprise certification. In
2018, Canaan achieved major technological breakthroughs to launch
the K210, the world's first-ever RISC-V-based edge artificial
intelligence (AI) chip, which is now widely used for access control
in situations such as smart door locks and more. Canaan Inc. is
currently focused on the research and development of advanced
technology, including such areas as AI chips, AI algorithms, AI
architectures, system on a chip (SoC) integration and chip
integration. Using the AI chip as its base, Canaan Inc. has
established an intellectual value chain. Canaan Inc. also provides
a suite of AI service solutions and is able to tailor these
solutions to the needs of its partners. For more information,
please visit: investor.canaan-creative.com.
Safe Harbor StatementThis
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
ContactCanaan Inc.Mr. Shaoke LiEmail:
IR@canaan-creative.com
ICR Inc.Jack WangTel: +1 (347) 396-3281Email:
canaan.ir@icrinc.com
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