Canaan, Inc.

Canaan, Inc. (NASDAQ: CAN) is a global leader in high-performance computing solutions, specializing in the design and manufacture of cutting-edge blockchain hardware. Founded in 2013, Canaan is best known for its Avalon series of Bitcoin mining machines, which are renowned for their superior power efficiency and computing capabilities. The latest models, including the A14 and A15 series, deliver exceptional performance with up to 249 TH/s hash rate and 18.5 J/TH efficiency, setting new industry standards. As of Q2 2024, Canaan achieved significant revenue growth, reporting $71.9 million, surpassing its management guidance. The company has also expanded its self-mining operations, reaching a computing power of 4.0 EH/s across multiple global locations, with plans to scale this to 10 EH/s by mid-2025. Canaan’s innovative product line includes air-cooled, immersion-cooled, and consumer-oriented mining solutions, catering to both institutional and individual miners. Canaan is committed to driving the future of digital infrastructure, not just through hardware innovation but also by supporting its customers with comprehensive service solutions. The company continues to expand its market presence globally, with manufacturing facilities in Malaysia and China, and a strong customer base in North America. With a focus on sustainability and technological advancement, Canaan is poised to remain at the forefront of the blockchain and digital asset industries.

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