SINGAPORE, Jan. 6, 2025
/PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or
the "Company"), a leading high-performance computing solutions
provider, today announced that Canaan U.S. Inc., a wholly owned
subsidiary of the Company, has entered into a purchase agreement
with a new, strategic United
States customer for its Avalon A15XP miners.
According to the purchase agreement, Canaan U.S. Inc. will
provide the customer with 2800 air-cooled Avalon A15XP
miners that will be added to its large mining fleet. The
miners, with a benchmark Hash performance of 207 Terahash per
second (TH/s), are scheduled to be delivered in the first quarter
of 2025.
"Adding another
well-respected, vertically integrated Bitcoin firm to our customer
base demonstrates our commitment to developing world-class Bitcoin
mining machines and the success that our sales team is having in
North American market," said Mr. Nangeng Zhang, chairman and chief
executive officer of Canaan. "We are excited to support our new
client in advancing its Bitcoin strategies."
About Canaan Inc.
Established in 2013, Canaan Inc. (NASDAQ: CAN),
is a technology company focusing on ASIC
high-performance computing chip design, chip research and
development, computing equipment production, and software services.
Canaan has extensive experience in chip design and streamlined
production in the ASIC field. In 2013, Canaan's
founding team shipped to its customers the world's first batch of
mining machines incorporating ASIC technology in
bitcoin's history under the brand name Avalon. In
2019, Canaan completed its initial public offering on the Nasdaq
Global Market. To learn more about Canaan, please visit
https://www.canaan.io/.
Safe Harbor Statement
This press release
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;
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. 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.
Xi
Zhang
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.