#Singapore #crypto mining #Canaan Inc. #Bitcoin Production

Canaan Inc. Makes Significant Move in Crypto Mining Market

Canaan Inc., traded on NASDAQ under the symbol CAN, has made headlines with its recent announcement regarding the successful conversion of Series A-1 Preferred Shares. This strategic step accentuates the company’s commitment to enhancing its market standing in the rapidly evolving crypto mining landscape.

On July 29, 2025, Canaan Inc. revealed that an institutional investor had fully converted its Series A-1 Convertible Preferred Shares into American Depositary Shares (ADSs). Each ADS represents 15 Class A ordinary shares of the company. Following this conversion, the investor completed the sale of the ADSs through open market transactions, marking a pivotal moment in Canaan’s financial maneuvers.

In March 2025, Canaan announced a Securities Purchase Agreement with the investor, aimed at generating up to $200 million through this preferred shares financing. The initial tranche, worth $100 million, was successfully closed on the announcement date, while it was subsequently agreed to terminate the second tranche by the end of April 2025. Canaan expressed gratitude towards the investor for their support, which is directing efforts towards research and development of advanced mining solutions, bitcoin mining operations, and global market expansion.

The investor's backing has been instrumental in advancing Canaan's goals, as reflected in the positive updates from June 2025. During this period, the company reported an impressive monthly average deployed hashrate of 8.15 EH/s, showcasing approximately a 30% increase from 6.28 EH/s recorded in February. This notable performance includes 4.22 EH/s from environmentally-friendly mining operations in Ethiopia and 3.66 EH/s in North America, with an additional 1.00 EH/s on its way to the United States.

Founded in 2013, Canaan Inc. stands as a leading innovator in the field of Application-Specific Integrated Circuit (ASIC) technology, focusing on high-performance computing chip design, production of mining equipment, and software services. The company has an illustrious history, having been the pioneer in shipping the first ASIC-powered mining machines to customers, under the brand name Avalon. In 2019, Canaan further solidified its market position by going public on the Nasdaq Global Market.

The company’s growth trajectory is supported by its operational excellence, as evidenced by the recent statistics that highlight its expanding market presence. With effective contributions from its investors, Canaan aims to solidify its status within the crypto mining industry, leveraging cutting-edge technology and committed advancements.

For a more in-depth understanding of Canaan’s initiatives and developments, interested parties can visit the company’s official website at Canaan.io.

Conclusion

Canaan Inc.’s recent share conversion and sale signify a proactive approach to investor relations and a commitment to amplifying its influence in the global crypto mining arena. With an innovative approach and investor backing, the company is poised for continued growth and success, reflecting the dynamic nature of the cryptocurrency market.

This announcement underscores Canaan’s strategic vision to navigate and thrive in the competitive landscape of crypto mining, solidifying its future in an industry filled with potential.