SINGAPORE, May 9, 2024
/PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the
"Company"), a leading high-performance computing solutions
provider, today debuted its newest product, the A1566 of the Avalon
A15 series, at the Bitcoin Asia exhibition in Hong Kong on May 9th,
2024.
The Avalon Miner A1566, with an outstanding computing power of
185Thash/s and a targeted optimized energy efficiency ratio of
18.5J/T, is the second generation of 1xJ/T series products released
by Canaan. The A1566 provides a more dependable mining experience,
setting a new benchmark in performance with improved power
efficiency. The new model is the result of Canaan's ongoing market
research, heightened investment in product development, and
partnership with partners to create chips that perform better using
the most recent advanced process. Canaan believes that the A1566
will let users actively adapt to the "post-halving" period,
boosting profitability and risk resistance even more.
The Bitcoin Asia
exhibition also features Canaan's consumer-oriented product line,
the Avalon Nano 3, as well as the Company's comprehensive
solutions. The Avalon Nano 3 has become more and more popular in
the consumer market thanks to its features like hand-warming, a
wide range of color selection, and mobility.
With the introduction of A1566, along with Avalon Nano 3, as
well as Canaan's comprehensive solutions, the Company remains
committed to advancing mining technology, aiming to provide more
efficient and cost-effective solutions for bitcoin
miners worldwide.
About Canaan Inc.
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, under the
leadership of Mr. Nangeng Zhang, founder and CEO, Canaan's founding
team shipped to its customers the world's first batch of mining
machines incorporating ASIC technology
in bitcoin's history under the brand name,
Avalon. In 2019, Canaan completed its initial public offering on
the Nasdaq Global Market. To learn more about Canaan, please
visit https://www.canaan.io/.
Safe Harbor Statement
This announcement contains forward−looking statements. These
statements are made under the "safe harbor" provisions of
the U.S. Private Securities Litigation Reform Act of
1995. These forward−looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar statements.
Among other things, the business outlook and quotations from
management in this announcement, as well as Canaan
Inc.'s strategic and operational plans, contain
forward−looking statements. Canaan Inc. may also make
written or oral forward−looking statements in its periodic reports
to the U.S. Securities and Exchange Commission ("SEC") on
Forms 20−F and 6−K, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Statements
that are not historical facts, including statements
about Canaan Inc.'s beliefs and expectations, are
forward−looking statements. Forward−looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward−looking statement, including but not limited to the
following: the Company's goals and strategies; the Company's future
business development, financial condition and results of
operations; the expected growth of
the bitcoin industry and the price
of bitcoin; the Company's expectations regarding
demand for and market acceptance of its products, especially
its bitcoin mining machines; the Company's
expectations regarding maintaining and strengthening its
relationships with production partners and customers; the Company's
investment plans and strategies, fluctuations in the Company's
quarterly operating results; competition in its industry
in China; and relevant government policies and regulations
relating to the Company and cryptocurrency.
Further information regarding these and other risks is included in
the Company's filings with the SEC. All information provided
in this press release and in the attachments is as of the date of
this press release, and Canaan Inc. does not undertake
any obligation to update any forward−looking statement, except as
required under applicable law.
Investor Relations Contact:
Canaan Inc.
Ms. Xi Zhang
Email: IR@canaan-creative.com
ICR, LLC.
Robin Yang
Tel: +1 (347) 396-3281
Email: canaan.ir@icrinc.com
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SOURCE Canaan Inc.