Canaan lands $72M backing from trio of institutional investors

Canaan Inc., one of the leading crypto mining companies, announced a new investment round from BH Digital, a division of Brevan ￰0￱ firm also tapped Galaxy Digital and Weiss Asset ￰1￱ ￰2￱ a $72M strategic investment from BH Digital, Galaxy Digital, and Weiss Asset ￰3￱ deal was completed through the purchase of American depository shares, each representing 15 Class A common stock of the ￰4￱ deal did not include warrants, options, or other derivative ￰5￱ is changing its capital markets strategy, aligning with the goals of the investor firms, announced the company. “ We are deeply grateful to Brevan Howard, Galaxy Digital, and Weiss Asset Management for their participation,” said Nangeng Zhang, chairman and CEO of Canaan. “ The investment will support Canaan’s continued innovation and growth across all areas of its business, reinforcing its commitment to strengthening the Bitcoin ecosystem through every phase of the cycle,” said ￰6￱ Cryptopolitan reported earlier, the legacy BTC miner and rig producer is now trying to join the AI trend with new types of data ￰7￱ taps funds with long-term outlook The institutional ownership signals greater confidence in the company, as well as its long-term ￰8￱ noted that the purchase of common stock, instead of warrants or derivatives, reflects confidence in the company’s ￰9￱ retains a relatively small treasury of 1,582 BTC , though it seeks more liquidity and capital to reduce reliance on raises or stock ￰10￱ will also add high-return computing projects, moving beyond crypto ￰11￱ October, Canaan also benefited from interest in its Apollo mining computers, securing an order for 50,000 machines for the US ￰12￱ also operates eight data centers , taking up the model of small-cap computational operations, while making a bigger pivot into ￰13￱ a smaller mining company, Canaan may be more volatile, with larger price ￰14￱ stock price declined in October Following the deal announcement, CAN stock prices remained relatively ￰15￱ stock traded at $1.11.

Canaan, Inc. (CAN) traded at $1.11 after announcing the new deal, remaining more volatile, similar to other operators of small data centers. |). The company has shown its intention to remain compliant and retain its Nasdaq listing, while operating out of ￰16￱ smartest crypto minds already read our ￰17￱ in? Join them .