Canaan Inc. Partners with CleanSpark for Mining Solutions
In a significant move within the high-performance computing sector, Canaan Inc. has entered into a purchase agreement with CleanSpark Inc. to supply Avalon A1566I miners. This partnership underscores Canaan's commitment to delivering cutting-edge technology tailored for the digital currency mining industry.
Details of the Purchase Agreement
The agreement entails Canaan U.S. Inc., a subsidiary of Canaan Inc., providing a total of 3,800 Avalon A1566I Immersion Cooling Miners to CleanSpark. These advanced miners boast impressive compute power, producing an average of 249 Terahash per second (TH/s) without overclocking. The delivery of this order is scheduled for the fourth quarter of the upcoming year, demonstrating both companies' strategic foresight in enhancing mining operations.
Significance of the Partnership
Mr. Nangeng Zhang, Chairman and CEO of Canaan, expressed enthusiasm regarding this new collaboration, stating, "We are thrilled that CleanSpark has chosen Canaan's high-performance mining solutions to advance their state-of-the-art immersion facilities." Canaan's miners will play a pivotal role in bolstering CleanSpark’s existing mining capabilities, which already rank amongst the industry’s most efficient.
Furthermore, CleanSpark's operations are recognized for their significant performance and power efficiency, a factor that aligns with Canaan's mission to support top-tier mining facilities. Mr. Zhang believes that this relationship will help push forward innovation in bitcoin mining technologies.
About Canaan Inc.
Founded in 2013, Canaan Inc. has established itself as a leader in the ASIC high-performance computing arena, known for its expertise in chip design and production. Canaan achieved a major milestone in the industry by shipping the first batch of ASIC-based mining machines under the Avalon brand, marking a historic point in bitcoin mining.
The company is proud of its legacy and ongoing innovations, with a significant presence in the capital markets following its public listing on the Nasdaq Global Market in 2019. This growth trajectory continues with new partnerships and advancements in mining hardware.
Commitment to the Mining Community
Canaan Inc. remains steadfast in its commitment to the North American mining sector. The collaboration with CleanSpark not only reflects this dedication but also opens doors for future joint ventures and enhanced technological developments. These efforts are designed to meet the surging demand for efficient mining operations while ensuring sustainability within the industry.
Contact Information for Investors
For any inquiries regarding investor relations, please reach out to Ms. Xi Zhang at Canaan Inc. via email at IR@canaan-creative.com. Additionally, ICR, LLC's Robin Yang is also available at +1 (347) 396-3281, or via email at canaan.ir@icrinc.com.
Frequently Asked Questions
What is the significance of Canaan's order with CleanSpark?
The order signifies a strategic partnership that enhances CleanSpark's mining operations and showcases Canaan's advanced technology in the industry.
How many miners are included in this order?
The purchase agreement includes 3,800 Avalon A1566I Immersion Cooling Miners.
When is the delivery of the miners scheduled?
The delivery of the miners is slated for the fourth quarter of the upcoming year.
What is the computing power of the Avalon A1566I miners?
These miners have an average compute power of 249 Terahash per second (TH/s) without overclocking.
Where can I find more information about Canaan Inc.?
Further details can be found by visiting Canaan Inc.'s official website.
