Canaan Inc. has successfully closed its Series A-1 preferred shares financing, raising gross proceeds of $30 million. The transaction was completed on November 19, 2024, through a securities purchase agreement with an institutional investor.Under the agreement terms, the Company issued 30,000 Series A-1 Convertible Preferred Shares at a price of $1,000 per share to the institutional buyer. The financing marks a significant capital raising milestone for the bitcoin mining machine manufacturer.

Canaan Inc. has successfully closed its Series A-1 preferred shares financing, raising gross proceeds of $30 million. The transaction was completed on November 19, 2024, through a securities purchase agreement with an institutional investor.Under the agreement terms, the Company issued 30,000 Series A-1 Convertible Preferred Shares at a price of $1,000 per share to the institutional buyer. The financing marks a significant capital raising milestone for the bitcoin mining machine manufacturer.