Canaan Secures Follow-on Purchase Order of 30,000 Bitcoin Mining Machines as Genesis Digital Assets Exercised the First Phase of the Purchase Option

Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it has secured a purchase order (the "Order") from Genesis Digital Assets Limited ("Genesis Digital Assets"), a leading Bitcoin mining firm with extensive experience in building and operating industrial-scale Bitcoin mining data centers, for 30,000 units of its Avalon Bitcoin mining machines.
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