Canaan launches a new generation of Bitcoin mining machines


– reveal Two models from Avalon made A 13 series –

BeijingAnd the October 24, 2022 /PRNewswire/ – Canaan Inc. has launched (NASDAQ: CAN) (“Canaan” or “the Company”), a leading provider of high-performance computing solutions, today presents its new generation of high-performance computing. Bitcoin mining machine Avalon Made A13 (“A13”).

Powered by advanced ASIC technologies, the new A13 series will feature two different models with improved computing power and improved energy efficiency over its predecessors. The A1346 features a hash rate of 110 TH/s and a power efficiency of 30J/TH. The A1366 is equipped with a hash rate of 130TH/sec and a power efficiency of 25J/TH.

Mr. Nangeng Zhang, Chairman and CEO of Canaan, commented: “The launch of our new generation Bitcoin Miners are a milestone in research and development as we take our pursuit of higher computing power, better energy efficiency, superior user experience and optimal cost-effectiveness to a whole new level. We are now working around the clock across the supply chain to prepare for future purchase orders and deliver new products to our customers around the world. While current challenges persist in the industry, core values ​​and long-term growth prospects Bitcoin And the giant computing industry is still going strong. We believe that our new generation products will enable us to better achieve our mission of supporting Bitcoin ecosystem by providing superior quality products, solutions and services. “

About Canaan Company

Founded in 2013, Canaan (NASDAQ:CAN) is a technology company focused on ASIC high-performance computing chip design, chip research and development, computing hardware production, and software services. The company’s vision is “Supercomputing is what we do, and social enrichment is why we do it.” Canaan has rich experience in chip design and simplified production in ASIC field. In 2013, it released and mass-produced the first ASIC Bitcoin mining machine. In 2018, Canaan released the world’s first 7nm ASIC chip, providing energy-efficient computing equipment for Cryptocurrency mining industry. That same year, Canaan released the world’s first commercial edge-architecture RISC-V chip, further harnessing the potential of ASIC technology in high-performance computing and artificial intelligence.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the US Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terms such as “will,” “expect,” “expect,” “future,” “intent,” and “plans.” and “believed” and “estimates” and similar statements. Among other things, business expectations and quotes from management in this announcement, as well as Canaan Inc’s strategic and operating plans, include forward-looking statements. Canaan Inc. may offer also written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20−F and 6K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its employees or its directors or employees to third parties. Statements that are not historical facts, including statements about Canaan Corporation’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; development of the company’s future business, financial position and results of operations; The expected growth of Bitcoin Industry and price Bitcoin; The company’s expectations regarding the demand and market acceptance of its products, especially its products Bitcoin Mining Machinery Company’s expectations regarding maintaining and strengthening its relationships with production partners and customers; The company’s investment plans and strategies, and 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. More information regarding these and other risks is included in the company’s filings with the Securities and Exchange Commission, including its registration statement on Form F-1, as amended, and its annual reports on Form 20 F, as amended. All information in this press release and attachments is as of the date of this press release, and Canaan Inc. Under no obligation to update any forward-looking statement, except as required by applicable law.

Investor Relations Contact

Canaan Company
Ms. Shi Chang
Email: IR@canaan-creative.com

ICR, LLC.
Robin Yang
Tel: +1 (347) 396-3281
Email: canaan.ir@icrinc.com

Cision

Cision

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SOURCE Canaan Inc.


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