Canaan Inc. (CAN) stock is up 5.25% in the pre-market trading session at the price of $9.63 despite no recent news.
Strategic Partnership with Genesis Digital Assets
CAN stock is a leading high-performance computing solutions provider. On 31st August 2021, the company published that it had secured a purchase order from Genesis Digital Assets Limited. Genesis is a leading Bitcoin mining firm and has around 20,000 Bitcoin mining machines. It has extensive experience in building and operating industrial-scale Bitcoin mining data centers. As per the deal, Canaan has granted Genesis Digital an option to purchase up to 180,000 additional mining machines.
CEO of CAN, Mr. Nangeng Zhang, remarked that since they partnered with Genesis Digital Assets earlier this year, both parties have signed several great deals. This order, with an option of future large purchases, further solidifies their collaborations. It reflects both parties’ confidence in the prospects of the cryptocurrency mining industry. All mutually beneficial deals show the quality of their products and their efforts to deliver for clients. They remain engaged in helping miner clients expand their computing power while generating value for their shareholders.
CAN Stock Secured Substantial Order of 17,352 Bitcoin Mining Machines
On 13th August 2021, CAN stock declared that it had received a purchase order from Mawson Infrastructure Group Inc. The order contains 17,352 bitcoin mining machines with an aggregate operating hash power of 1.5EH. According to the deal, the company will deliver the latest generations of its Avalon A1166 and A1246 bitcoin mining machines to Mawson’s operations.
Mr. Nangeng Zhang, Chief Executive Officer of CAN, remarked that they are pleased to further enhance their partnership with Mawson. With robust computing performance, they are bringing their next-generation mining solutions to a growing cohort of renowned international miners. By strengthening their supply chain management, they have secured their production capacity and ensured the timely delivery of their products. Looking ahead, they will remain focused on their growth strategies for overseas advancement, R&D investment, and supply chain cultivation to enhance the sustainability of their business, he added.
Enhancement of AI Business by Investment in Leading Visual Solution Provider
On 11th August 2021, CAN stock disclosed that it has entered into an agreement with Pixelworks Semiconductor Technology Ltd. (PWSH). The company will invest roughly US$3.1 million in cash in exchange for an equity interest in PWSH. The deal is subject to certain closing conditions. Under the agreement, PWSH has agreed to complete all requirements to apply to a qualified initial public offering. The QIPO is consummated prior to 30th June 2024 for investors.
