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ASIC Mining Rig Manufacturer Canaan Reveals $100 Million Stock Buyback Program
17.3.2022
The application-specific integrated circuit (ASIC) manufacturer Canaan has revealed the firm is offering a stock buyback for up to $100 million. Canaan’s chairman and CEO Nangeng Zhang highlighted in a U.S. Securities and Exchange Commission (SEC) filing that the move was due to issues with...
After Years of ASIC Manufacturing Canaan Expands to Bitcoin Mining in Kazakhstan
24.6.2021
Canaan Inc., the crypto mining rig manufacturer based in Beijing, has announced the company plans to mine cryptocurrencies in Kazakhstan. The company says that the firm’s next-generation Avalonminer mining rigs are already deployed in the world’s largest landlocked country. Canaan Joins...
Genesis Digital Assets Purchases 10,000 Bitcoin Miners from Canaan
17.6.2021
The Beijing-based ASIC mining rig manufacturer Canaan announced the sale of 10,000 bitcoin mining machines to the firm Genesis Digital Assets Limited. Canaan plans to deliver the 10,000 A1246 and A1166 Pro Avalonminers by the end of the month. Canaan to Deliver 10,000 Bitcoin Miners to Genesis...
While China’s Bitcoin Miners Flock to Central Asia Canaan Sets up ASIC Mining Rig Service in Kazakhstan
7.6.2021
On Monday, the application-specific integrated circuit (ASIC) manufacturer Canaan Inc. announced the company has established an overseas after-sales center in Kazakhstan. According to Canaan, the service center will provide local customers with after-sales services like machine testing, warranty...
Canaan Expects $250M Revenue in Q2 — Yields and Mining Rig Deliveries to ‘Increase Substantially’
2.6.2021
The mining rig manufacturer Canaan saw steady profits during the Q1 after reporting its unaudited first quarter 2021 financial results on Tuesday. Canaan noted that it expects to at least sustain current profits or rise above to roughly $150 to $250 million in revenue for Q2. Canaan Expects $250M...
Canaan to Sell $93 Million in Next-Generation Bitcoin Miners to Genesis Digital Assets
29.4.2021
The ASIC bitcoin mining rig manufacturer and chipmaker, Canaan has announced the company has signed a $93.63 million purchase order with the mining firm Genesis Digital Assets. Genesis will be acquiring Canaan’s A1246 Avalonminer rigs that produce 90 terahash per second (TH/s) and deliveries...
Canaan to Ship 11,760 Next-Generation Bitcoin Miners to a US-Listed Firm, CAN Shares Jump 11%
22.4.2021
On April 21, the bitcoin mining rig manufacturer Canaan announced the firm will be supplying 11,760 next-generation A1246 ASIC Avalonminers to a company called Mawson Infrastructure Group. The announcement notes that the mining units will be dispersed among Mawson’s bitcoin mining operations...
Canaan Cuts Losses for Second Successive Quarter, Down To $2.4M in Q2; Demand Remains Weak
3.9.2020
Canaan Creative, the Chinese maker of bitcoin mining hardware, reported a net loss of $2.4 million during the second quarter of 2020, down from $5.6 million in the previous quarter. It is the second consecutive quarter of narrowing losses for the firm, hit hard by falling demand amid...