ChainCatcher news, Nasdaq-listed company Canaan Creative Technology announced that its Singapore subsidiary Canaan Creative Global Pte. Ltd. has signed a mining machine purchase agreement with AGM Group Holdings Inc., initially providing 2,000 Bitcoin mining machines. Additionally, it has agreed to offer an option to purchase approximately 30,000 additional BTC mining machines.

ChainCatcher news, according to Finance Magnates, Bitcoin mining machine manufacturer Canaan Inc. has recently signed a securities purchase agreement to sell up to 30,000 shares of Series A-1 preferred stock to an institutional investor at a price of $1,000 per share. The agreement will raise $30 million to support the development of digital mining and equipment in North America.Previously, Canaan Inc. completed its Series A financing in September 2024, during which it sold up to 125,000 Series A convertible preferred shares.Canaan Inc. has also made progress in product development, with high demand for its Avalon A15-194T mining machines. The company has signed a follow-on purchase agreement with HIVE Digital Technologies to deliver 5,000 Avalon A15 mining machines in the first quarter of 2025. In addition to expanding its product supply, Canaan Inc. is also strengthening its mining operations in North America. Its subsidiary, Beet Digital LLC, has signed a joint mining agreement with Luna Squares Texas LLC (LS Texas). The agreement aims to expand Canaan Inc.'s mining capacity to 10 EH/s by mid-2025.

ChainCatcher news, Canaan Inc. (NASDAQ: CAN) today released its unaudited financial performance report for the period ending September 30, 2024.The report shows that total revenue for the quarter was $73.61 million, an increase of 120.9% year-over-year; total sales hash rate was approximately 7.3 million Thash/s, an increase of 93.8% year-over-year; mining revenue was $8.96 million, with 147 bitcoins mined, averaging $61,034 per bitcoin; operating loss was $56.84 million, narrowing by 49.6% year-over-year.As of September 30, 2024, the company held a total of 1,231.3 bitcoins, with a fair value of cryptocurrency assets and cryptocurrency receivables totaling $79.02 million.

ChainCatcher news, according to Cointelegraph, Canaan's (嘉楠科技) founder and CEO N.G. Zhang recently revealed in an interview that the company plans to launch a Mini series of home mining machines by the end of this year, with a maximum power of about 800W, using the latest chips, and a maximum hash rate of up to 40T, while also featuring heating capabilities.Zhang stated that the shipment of the previously launched Avalon Nano3 series home mining machines exceeded 10,000 units last quarter. He believes that home mining products are expected to account for 20% of the overall mining market in the future, which will greatly enhance the security of the Bitcoin network.Looking back over the past decade, Zhang pointed out that from the first generation Avalon mining machine with 66Ghs hash rate and 700W power consumption, to the 15th generation A1566 with over 200,000 Ghs hash rate and 3600W power consumption, the performance of mining machines has improved by about 3000 times, and energy efficiency has increased by nearly 600 times. Currently, the A1566 mining machine has achieved a hash rate of 210THs, with some high-end models achieving energy efficiency below 17J/TH.

ChainCatcher news, Canaan Inc. today announced its unaudited financial results for the three months ended June 30, 2024. Revenue for the second quarter of 2024 was $71.9 million, exceeding the previous expectation of $70 million, and grew by 104.8% compared to the previous quarter. The total computing power sold was 6.2 million Thash/s, an increase of 83.9% quarter-over-quarter. The operating loss was $46.6 million, narrowing by 60.9% compared to the same period last year, and narrowing by 31.5% compared to the previous quarter.As of June 30, 2024, the company's cryptocurrency assets primarily included 1,133.5 bitcoins, with a total fair value of $69.9 million, which includes 584.2 bitcoins owned by the company, 530 bitcoins staked, and 19.3 bitcoins received as customer deposits. As of June 30, 2024, the company had cash of $66.8 million, compared to $96.2 million as of December 31, 2023.

ChainCatcher news, Canaan Inc. announced today its unaudited financial results for the three months ended March 31, 2024, showing revenue of $35.09 million, exceeding the previous expectation of $33 million by 6%. Among this, mining revenue was $10.46 million, a quarter-over-quarter increase of 182.1%. The company holds 1,057 bitcoins. The net loss was $39.39 million, a quarter-over-quarter decrease of 71.7% and a year-over-year decrease of 53.3%.

ChainCacther message: According to the effective regulations on digital mining activity permits in Kazakhstan, Canaan Technology has decided to temporarily shut down its mining power of approximately 2.0 Exahash/s since July 2023.To resume mining operations after obtaining approval, the company needs to acquire a Class II mining license from the mining machine owners. However, before the company can complete the license application, it must wait for one of its local partners to obtain a Class I license for mining infrastructure holders. Currently, this local partner has applied for the license, but its application is still pending.

ChainCatcher news, Canaan Inc. has signed a revised sales agency agreement with HC Wainwright & Co., LLC (Wainwright) in a filing submitted to the U.S. Securities and Exchange Commission (SEC), involving the sale of its American Depositary Shares or American Depositary Receipts.According to the terms of the sales agreement, Canaan Inc. may offer and sell ADS representing Class A common stock, with a total offering price of up to $750 million. (source link)

ChainCatcher news, Canaan Creative released its financial report for the third quarter of 2022, showing a net profit of 61.1 million yuan, a year-on-year decrease of 88.1% and a quarter-on-quarter decrease of 90%; the total computing power sold was 3.54 million TH/s, down 48.5% year-on-year and 37.1% quarter-on-quarter.In addition, Canaan Creative's revenue for the third quarter was 978.2 million yuan, a quarter-on-quarter decrease of 40.8% and a year-on-year decrease of 25.8%. Canaan's Chief Financial Officer James Jin Cheng stated that given the decline in Bitcoin prices, rising energy costs, and increasing cash pressure on miners, the market conditions are expected to continue to deteriorate. (source link)

According to Chain Catcher news and a report from Caixin, by checking the financial report of the Chinese concept stock Canaan Inc., it was learned that the company increased its holdings by 180 bitcoins in the second quarter of this year despite headwinds. As of June 30, 2022, Canaan Inc. held cryptocurrency assets worth 51.3 million yuan, including 346.84 bitcoins, a quarter-on-quarter increase of 107.74%. (Source link)