Canaan Inc.

Canaan, Inc. provides computing solutions to solve problems. Currently, the firm is focused on the research and development of technology, including such areas as AI chips, AI algorithms, AI architectures, system on a chip (SoC) integration and chip integration. It also provides a suite of AI service solutions. The company was founded by Li Jia Xuan, Liu Xiang Fu and Zhang Nan Geng in 2013 and is headquartered in Beijing, China.

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Canaan Inc. surpasses revenue expectations amidst bitcoin industry challenges

Canaan Inc. navigated industry challenges to exceed revenue guidance, focusing on R&D investment and global mining expansion. The company faces tough market conditions but is strategically balancing share buyback and ATM use. Opportunities lie in AI chip development and expanding mining operations in North America.

Canaan Inc. Q1 2023 Sees Revival in Bitcoin Mining Demand

Canaan Inc. Q1 2023 reflects a resilient performance in the bitcoin mining industry, with a focus on innovation, global expansion, and financial stability. Despite ongoing challenges, the company is well-positioned to capitalize on opportunities for revenue growth and market share expansion.

Canaan Inc. reports robust Q2 mining revenue amidst market challenges

Canaan Inc. delivered solid financial performance in Q2 2023, with a focus on mining revenue and strategic growth initiatives. However, challenges from policy changes and market uncertainties warrant a cautious outlook for future revenue. The company remains resilient and adaptable in addressing industry dynamics.

Canaan Inc. reports Q3 revenue beat amidst market challenges

Canaan Inc. navigated a challenging quarter marked by financial losses and operational disruptions, yet demonstrated resilience through product innovation and market expansion efforts.
The company's proactive approach to raising capital and restructuring business segments indicates a strategic focus on long-term growth and sustainability.
While facing uncertainties in the industry, Canaan Inc. remains positioned to capitalize on opportunities for growth through product development and strategic partnerships.

Canaan Inc. surpasses revenue expectations, eyes growth amid market uncertainties

Canaan Inc. delivered strong financial performance in Q4 2023, surpassing revenue expectations and achieving notable sales growth. The company's strategic focus on innovation, partnerships, and operational efficiency positions it well for future growth. While challenges exist, Canaan Inc. is proactively addressing market uncertainties and pursuing growth opportunities.

Canaan Inc. reports Q1 revenue of USD 35 million, eyes growth

Canaan Inc. demonstrated strong revenue generation in Q1 2024 but faced a net loss due to significant operating expenses.
The company's focus on enhancing mining machines and managing costs positions it well for future growth and profitability.
Despite challenges, Canaan's strategic approach to cash management and product development presents opportunities for sustained success in the mining industry.
Investors should monitor Canaan's performance closely as the company aims for continued revenue growth in the upcoming quarters.

Canaan Inc. reports robust Q2 results amidst market challenges

Canaan Inc. reported strong Q2 2024 results with sequential revenue growth, operational improvements, and a positive outlook for future performance
The company's focus on innovation, cost management, and global expansion positions it well to navigate market challenges and capitalize on growth opportunities
Despite market uncertainties and operational challenges, Canaan Inc. remains resilient, adaptive, and poised for continued success in the cryptocurrency mining industry

Canaan Inc. surpasses revenue targets, eyes growth amid Bitcoin market challenges

Canaan Inc. delivered strong financial performance, exceeding revenue targets and showcasing growth potential in the Bitcoin mining market.
The company's focus on innovation, strategic partnerships, and expansion projects positions it well for future market opportunities and growth.
Despite challenges from market volatility, Canaan's financial stability, cash reserves, and Bitcoin holdings reflect confidence in long-term success.
By leveraging opportunities in market demand, energy-efficient regions, and technological advancements, Canaan aims to sustain its competitive edge.

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Canaan, Inc. is a holding company, which engages in developing and selling Bitcoin mining machines and related services. It focuses on the development of green mining. The company was founded by Jia Xuan Li, Xiang Fu Liu and Nan Geng Zhang in 2013 and is headquartered in Singapore.

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After recent gains, Canaan stock is now up roughly 55% across 2021's trading.

Here's Why Canaan Stock Skyrocketed 40.3% Last Month

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BEIJING, Oct. 29, 2021 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it has secured a follow-on purchase order from HIVE Blockchain Technologies Ltd. (TSX.V: HIVE; NASDAQ: HIVE) ("HIVE"), for 6,500 units of its next-generation Avalon Bitcoin mining machines.

Canaan Secures Follow-On Purchase Order From Hive Blockchain for 6,500 Bitcoin Mining Machines

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Why Square, Coinbase, and Canaan All Dropped Along With Cryptocurrencies on Friday

BEIJING, Sept. 20, 2021 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that its board of directors has authorized a share repurchase program under which the Company may repurchase up to US$20 million worth of its outstanding (i) American depositary shares ("ADSs"), each representing 15 Class A ordinary shares, and/or (ii) Class A ordinary shares over the next 12 months starting from September 20, 2021.

Canaan Inc. Announces Up to US$20 Million New Share Repurchase Program

High-performance computing solutions provider Canaan Inc's (NASDAQ: CAN) board approved a $20 million share buyback program worth outstanding ADS, each representing 15 Class A shares over the next 12 months starting from September 20.  Canaan recently reported Q2 FY21 net earnings per ADS of $0.22.

Canaan Plans $20M Share Buyback

Canaan Inc (NASDAQ: CAN) will be a part of the FTSE Global Equity Index Series (GEIS) China Regional Index, effective after the close of business on September 17. The computing solutions provider recently posted upbeat Q2 earnings and a solid Q3 outlook.

Canaan Set To Join The FTSE Russell Indexes Today

BEIJING, Sept. 17, 2021 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it will be added to the FTSE Global Equity Index Series ("GEIS") China Regional Index (the "Index"), effective after the close of business on Friday, September 17, 2021.

Canaan to Join the FTSE Russell Indexes

Canaan Inc. (CAN) CEO Nangeng Zhang on Q2 2021 Results - Earnings Call Transcript

Earnings were great, but the market sold off the stock anyway.

Why Canaan's Stock Dropped 13.8% on Wednesday

Computing solutions provider Canaan Inc (NASDAQ: CAN) reported second-quarter FY21 revenue growth of 507.3% year-on-year to $167.5 million. A substantial increase in total computing power sold drove the numbers.

Canaan Stock Gains On Strong Q2 Performance, Robust Q3 Outlook

Canaan Clocks 507% Revenue Growth In Q2, Expands Margin

BEIJING, Sept. 15, 2021 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced its unaudited financial results for the second quarter ended June 30, 2021 and the Change of Board Composition.

Canaan Inc. Reports Unaudited Second Quarter 2021 Financial Results and Announces Change of Board Composition

Canaan Inc (NASDAQ: CAN) appointed KPMG Huazhen LLP as its independent auditor, effective September 13, dismissing PricewaterhouseCoopers Zhong Tian LLP. The reports of PwC on Canaan's consolidated financial statements as of and for the years ended December 31, 2020, and 2019 did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principle.

Canaan Names New Auditor

BEIJING, Sept. 13, 2021 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it has dismissed PricewaterhouseCoopers Zhong Tian LLP ("PwC") as the Company's independent auditor on September 9, 2021 and has approved the appointment of KPMG Huazhen LLP ("KPMG") as the independent auditor of the Company, effective September 13, 2021.

Canaan Announces Change of Auditor

BEIJING, Sept. 9, 2021 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it plans to release its second quarter 2021 financial results before the market opens on Wednesday, September 15, 2021.

Canaan Inc. to Report Second Quarter 2021 Financial Results on September 15, 2021

BEIJING, Aug. 31, 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 20,000 of its Bitcoin mining machines. In conjunction with the Order, Canaan has granted Genesis Digital Assets an option to purchase up to 180,000 additional mining machines.

Canaan Cements Strategic Partnership With Genesis Digital Assets via Milestone Sales Contract With an Additional Purchase Option

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Cryptocurrencies are up big today, and that's pulling crypto mining and equipment stocks with them.

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The shares of Canaan Inc. (NASDAQ: CAN) increased by over 8% pre-market. This is why it happened.

Canaan Shares Increase Over 8% Pre-Market: Why It Happened

Key points: Canaan Inc.'s recent series of deals from two major international customers could be worth around $200 million in 2021 and 2022

Bitcoin Mining Machine Maker Canaan Plays Up Offshore Sales

High-performance computing solutions provider Canaan Inc (NASDAQ:CAN) won a purchase order for 17,352 bitcoin mining machines with an aggregate operating hash power of 1.5EH from Mawson Infrastructure Group Inc (OTCQB:MIGI). Canaan will deliver the latest generations of Avalon A1166 and A1246 bitcoin mining machines to Mawson's operations in the U.S. and Australia throughout 2021 and 2022.

Canaan Scoops Bitcoin Mining Machine Order From Mawson

BEIJING, Aug. 13, 2021 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it has received from Mawson Infrastructure Group Inc. (OTCQB: MIGI) ("Mawson") a purchase order (the "Order") for 17,352 bitcoin mining machines with an aggregate operating hash power of 1.5EH. According to the terms of the Order, the Company will deliver the latest generations of its Avalon A1166 and A1246 bitcoin mining machines to Mawson's operations in the U.S. and Australia throughout 2021 and 2022.

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

SYDNEY--(BUSINESS WIRE)--Mawson Infrastructure Group Inc. (OTCQB:MIGI) (“Mawson”), a digital infrastructure provider with diversified operations across bitcoin mining and digital asset management, announces it has purchased an additional 17,352 of Canaan's (NASDAQ:CAN) latest generation ASIC bitcoin miners, adding over 1.5EH to Mawson's existing operations. The additional 17,352 latest generation Avalon A1166 and A1246 bitcoin miners will be deployed across Mawson's USA and Australian operation

Mawson Infrastructure Group Inc. Announces Purchase of an Additional 17,352 Latest Generation ASIC Bitcoin Miners From Canaan, Adding 1.5EH to Existing Operations

BEIJING, Aug. 11, 2021 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that the Company through its wholly-owned subsidiary, Hangzhou Canaan Creative Information Technology Limited, has entered into an agreement with Pixelworks Semiconductor Technology (Shanghai) Co., Ltd.("PWSH"), a subsidiary of Pixelworks, Inc. (NASDAQ: PXLW) ("Pixelworks") to invest approximately US$3.1 million in cash in exchange for an equity interest in PWSH (the "Investment"), subject to certain closing conditions.

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