Canaan Inc. Closes $72 Million Registered Direct Offering to Accelerate Innovation in Crypto Mining
The leading ASIC Bitcoin miner manufacturer raises capital with institutional investors to support high-performance computing chip design, chip research, and next-generation mining hardware development, reinforcing its position in the crypto mining industry since 2013.
Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), an innovator in crypto mining, announced the closing of the registered direct offering with institutional investors that the Company announced on November 4, 2025. The offering totaled US$72 million of the Company's American depositary shares ("ADSs"), each representing 15 Class A ordinary shares, at a price of US$1.131 per ADS.
Established in 2013, Canaan Inc. (NASDAQ: CAN), is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. Canaan has extensive experience in chip design and streamlined production in the ASIC field. In 2013, Canaan's founding team shipped to its customers the world's first batch of mining machines incorporating ASIC technology under the brand name Avalon. In 2019, Canaan completed its initial public offering on the Nasdaq Global Market.
