Canaan Secures Substantial Order of 17,352 Bitcoin Mining Machines from Mawson

BEIJING, Aug. 13, 2021 /PRNewswire/ — Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), a leading provider of high-performance computing solutions, today announced it has acquired Mawson Infrastructure Group Inc. (OTCQB: MIGI) (“Mawson”) a purchase order (the “Order”) for 17,352 bitcoin mining machines with a total operational hash power of 1.5 EH. Under the terms of the order, the company will supply the latest generations of its Avalon A1166 and A1246 bitcoin mining machines to Mawson’s operations in the US and Australia in 2021 and 2022.

The order is in addition to Mawson’s previous order placed earlier this year for 11,760 of the company’s A1246 bitcoin mining machines with a total operational hash power of 1.05EH.

headquarters in Sydney, AustraliaMawson is a global digital infrastructure provider with diversified cryptocurrency mining and digital asset management businesses. Mawson currently conducts its bitcoin mining operations in both the US and Australia.

Mr. Nangeng Zhang, Chairman and Chief Executive Officer of Canaan, commented, “We are excited to further strengthen our partnership with Mawson. With powerful computing performance, we bring our next-generation mining solutions to a growing cohort of renowned international miners. Meanwhile by strengthening our supply chain management, we have also secured our production capacity and ensured the on-time delivery of our products to support our customers in their mining capacity expansions. .”

About Canaan Inc.

Founded in 2013, Canaan (NASDAQ: CAN) is a technology company focused on ASIC high-performance computer chip design, chip research and development, computer equipment manufacturing and software services. The company’s vision is “super computing is what we do, social enrichment is why we do it”. Canaan has rich experience in chip design and streamlined manufacturing in 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, which provides energy-efficient computing equipment to the cryptocurrency mining industry. In the same year, Canaan released the world’s first commercial edge AI chip with RISC-V architecture, unlocking 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 US Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terms such as “will”, “expects”, “anticipates”, “future, ” “intends”, “plans”, “believes”, “darling” and similar statements. Among other things, the business outlook and management quotes 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 US 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 of 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 in any forward-looking statement, including but not limited to the following: the company’s objectives and strategies; the future business development, financial condition and results of operations of the company; the expected growth of the Bitcoin industry and the price of Bitcoin; the company’s expectations regarding the demand for and market acceptance of its products, especially its Bitcoin mining equipment; the company’s expectations regarding maintaining and strengthening its relationships with manufacturing 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 regarding the company and cryptocurrency. More information about these and other risks is contained 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 in this press release and in the attachments is as of the date of this press release, and Canaan Inc. assumes no obligation to update any forward-looking statements, except as required under applicable law.

Contact person for investor relations

Canaan Inc.
Mr Shaoke Li
Email: IR@canaan-creative.com

ICR Inc.
Robin Yang |
Phone: +1 (347) 396-3281
Email: canaan.ir@icrinc.com

decision

decision

View original content:https://www.prnewswire.com/news-releases/canaan-secures-substantial-order-of-17-352-bitcoin-mining-machines-from-mawson-301354946.html

SOURCE Canaan Inc.

Leave a Reply

Your email address will not be published. Required fields are marked *