Canaan Expands its Mining Operations with Deployment of Over 10,000 Mining Machines - Aliens: AI Crypto News & Markets Updates












Canaan Expands its Mining Operations with Deployment of Over 10,000 Mining Machines

PR Newswire

Tue, Jan 04, 2022


Aliens TLDR

(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.

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.

In 2018, Canaan released the world's first 7nm ASIC chip, providing energy efficient computing equipment to the cryptocurrency mining industry.

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.

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.

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