Nangeng Zhang

Mining Rig Manufacturer Canaan Launches 2 New ASIC Bitcoin Miners With up to 130 Terahash

October 24, 2022 Bitcoin.com

110 TH/s

On Monday, bitcoin mining rig manufacturer Canaan Inc., announced the launch of the company’s latest high-performance bitcoin miners called the A13 series. Canaan has revealed two models in the A13 series, which feature “improved power efficiency over its predecessors,” and the new models produce an estimated 110 to 130 terahash per second (TH/s). Canaan Launches […]

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ASIC Mining Rig Manufacturer Canaan Reveals $100 Million Stock Buyback Program

March 17, 2022 Bitcoin.com

Bitcoin

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 “recent international frictions” and “domestic quarantine measures for Covid-19 control.” […]

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Genesis Digital Assets Acquires 20,000 Bitcoin Mining Rigs From Canaan, Company Has Option to Buy 180K More

August 31, 2021 Bitcoin.com

1.4 gigawatts

The China-based bitcoin ASIC mining machine manufacturer Canaan has announced the company has forged a partnership with Genesis Digital Assets, and the two firms have now signed a deal for a large purchase order. Genesis will buy 20,000 bitcoin miners from Canaan and the mining operation also has the option to purchase an additional 180,000 […]

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After Years of ASIC Manufacturing Canaan Expands to Bitcoin Mining in Kazakhstan

June 24, 2021 Bitcoin.com

Antpool

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 the Bitcoin Mining Fray The publicly-listed company Canaan (Nasdaq: CAN) has revealed the firm […]

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Genesis Digital Assets Purchases 10,000 Bitcoin Miners from Canaan

June 17, 2021 Bitcoin.com

Abdumalik Mirakhmedov

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 Digital Assets The company Canaan (Nasdaq: CAN) has […]

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While China’s Bitcoin Miners Flock to Central Asia Canaan Sets up ASIC Mining Rig Service in Kazakhstan

June 7, 2021 Bitcoin.com

Bitcoin

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 services, maintenance, and technical consultation. Chinese Miners Are Focused on Relocation, Canaan Opens Mining Rig Service Center […]

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Canaan Expects $250M Revenue in Q2 — Yields and Mining Rig Deliveries to ‘Increase Substantially’

June 2, 2021 Bitcoin.com

ASIC miners

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 in Revenue for Q2 – Company […]

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Canaan to Sell $93 Million in Next-Generation Bitcoin Miners to Genesis Digital Assets

April 29, 2021 Bitcoin.com

Abdumalik Mirakhmedov

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 will be shipping during the second half of 2021. Canaan and […]

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Canaan to Ship 11,760 Next-Generation Bitcoin Miners to a US-Listed Firm, CAN Shares Jump 11%

April 22, 2021 Bitcoin.com

11760 rigs

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, and will add over an exahash of hashrate to Mawson’s mining facilities. Canaan […]

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