Building on the earlier November order of 6,500 Avalon A1566 Miners
SINGAPORE, Nov. 20, 2024 — Canaan Inc. (NASDAQ: CAN), a leading provider of high-performance computing solutions, today announced that its wholly owned Singapore subsidiary, Canaan Creative Global Pte. Ltd. (“CCG”), has agreed to supply HIVE Digital Technologies Ltd (“HIVE”) with additional Avalon A15-194T miners.
This agreement entails the delivery of 5,000 Avalon A15-194T miners to HIVE. These miners boast an average computing power of 194 Terahash per second (TH/s) and are slated for delivery in the first quarter of 2025.
“We are grateful for HIVE’s repeat order of our upgraded A15 series miners so quickly, demonstrating their commitment to expanding their Bitcoin mining operations,” stated Nangeng Zhang, Chairman and CEO of Canaan. “HIVE’s globally dispersed team, operating across multiple time zones and languages, showcases their dedication to environmentally and socially responsible practices, including integrating green energy, grid balancing, and heat recovery. HIVE’s power-first approach and focus on addressing the growing demand for AI computing establishes a flexible energy infrastructure capable of adapting to technological advancements for years to come.”
The Avalon Miner A1566 represents the second generation of Canaan’s 1xJ/T series products. Designed for enhanced reliability, the A1566 sets a new standard for performance through improved energy efficiency, a testament to Canaan’s ongoing market research and product development investments.
About Canaan Inc.
Founded in 2013, Canaan Inc. (NASDAQ: CAN) is a technology company specializing in ASIC high-performance computing chip design, research and development, equipment manufacturing, and software services. Canaan possesses extensive expertise in ASIC chip design and streamlined production. In 2013, Canaan delivered the world’s first ASIC-based Bitcoin mining machines under the Avalon brand. Canaan successfully completed its initial public offering on the Nasdaq Global Market in 2019. For further information on Canaan, please visit .
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SOURCE Canaan Inc.