Canaan Inc., a leading high-performance computing solutions provider, has announced a significant purchase agreement with Cipher Mining Technologies Inc. for 6,600 units of its latest Avalon Miner A1566. The order, expected to be delivered in Q4 2024, showcases the advanced computing power and efficiency of Canaan's new mining machines. Cipher Mining also secured an option to purchase additional mining equipment for up to 160 megawatts, allowing for operational scalability. Canaan's CEO, Nangeng Zhang, expressed satisfaction with the continued partnership and the recognition of their product's superior performance. Cipher's CEO, Tyler Page, praised Canaan for meeting the high demands of their mining operations. Both companies have a history of collaboration, with Canaan having a strong track record in ASIC high-performance computing chip design and production, and Cipher focusing on the development and operation of bitcoin mining data centers. The announcement also contains forward-looking statements regarding future product deliveries and Canaan's strategic and operational plans.

Canaan Inc., a leading high-performance computing solutions provider, has announced a significant purchase agreement with Cipher Mining Technologies Inc. for 6,600 units of its latest Avalon Miner A1566. The order, expected to be delivered in Q4 2024, showcases the advanced computing power and efficiency of Canaan's new mining machines. Cipher Mining also secured an option to purchase additional mining equipment for up to 160 megawatts, allowing for operational scalability. Canaan's CEO, Nangeng Zhang, expressed satisfaction with the continued partnership and the recognition of their product's superior performance. Cipher's CEO, Tyler Page, praised Canaan for meeting the high demands of their mining operations. Both companies have a history of collaboration, with Canaan having a strong track record in ASIC high-performance computing chip design and production, and Cipher focusing on the development and operation of bitcoin mining data centers. The announcement also contains forward-looking statements regarding future product deliveries and Canaan's strategic and operational plans.