– Unveils Two Fashions of the Avalon Made A13 Collection –

BEIJING, Oct. 24, 2022 /PRNewswire/ — Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Firm”), a number one high-performance computing options supplier, right now launched its new technology of high-performance bitcoin mining machine, the Avalon Made A13 (“A13”) sequence.

Powered by superior ASIC applied sciences, the brand new A13 sequence will embody two totally different fashions with enhanced computing energy and improved energy effectivity over its predecessors. Mannequin A1346 incorporates a hash fee of 110 TH/s and an influence effectivity of 30J/TH. Mannequin A1366 is supplied with a hash fee of 130TH/s and an influence effectivity of 25J/TH.

Mr. Nangeng Zhang, Chairman and Chief Government Officer of Canaan, commented, “The launch of our new technology bitcoin mining machine is a key analysis and improvement milestone as we take our pursuit of upper computing energy, higher energy effectivity, superior person expertise, and optimum price effectiveness to an entire new degree. We are actually working across the clock throughout the provision chain to arrange for future buy orders and deliveries of the brand new merchandise to our purchasers worldwide. Whereas the present challenges within the trade persist, the basic values and the long-term development prospects of bitcoin and the supercomputing trade stay robust. We consider that our new technology merchandise will allow us to higher fulfill our mission of supporting the bitcoin ecosystem by offering superior merchandise, options, and providers.”

About Canaan Inc.

Established in 2013, Canaan (NASDAQ: CAN), is a expertise firm specializing in ASIC high-performance computing chip design, chip analysis and improvement, computing tools manufacturing, and software program providers. The corporate’s imaginative and prescient is “tremendous computing is what we do, social enrichment is why we do it.” Canaan has a wealthy expertise in chip design and streamlined manufacturing within the ASIC subject. In 2013, it launched and mass produced its first ASIC Bitcoin mining machine. In 2018, Canaan launched the world’s first 7nm ASIC chip, offering vitality environment friendly computing tools to the cryptocurrency mining trade. In the identical 12 months, Canaan launched the world’s first RISC-V structure business edge AI chip, additional harnessing the potential of ASIC expertise within the subject of high-performance computing and synthetic intelligence.

Secure Harbor Assertion

This announcement incorporates ahead−trying statements. These statements are made below the “secure harbor” provisions of the U.S. Non-public Securities Litigation Reform Act of 1995. These ahead−trying statements could be recognized by terminology corresponding to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and related statements. Amongst different issues, the enterprise outlook and quotations from administration on this announcement, in addition to Canaan Inc.’s strategic and operational plans, comprise ahead−trying statements. Canaan Inc. can also make written or oral ahead−trying statements in its periodic stories to the U.S. Securities and Trade Fee (“SEC”) on Types 20−F and 6−Ok, in its annual report back to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or workers to 3rd events. Statements that aren’t historic information, together with statements about Canaan Inc.’s beliefs and expectations, are ahead−trying statements. Ahead−trying statements contain inherent dangers and uncertainties. A variety of components might trigger precise outcomes to vary materially from these contained in any ahead−trying assertion, together with however not restricted to the next: the Firm’s objectives and techniques; the Firm’s future enterprise improvement, monetary situation and outcomes of operations; the anticipated development of the Bitcoin trade and the worth of Bitcoin; the Firm’s expectations concerning demand for and market acceptance of its merchandise, particularly its Bitcoin mining machines; the Firm’s expectations concerning sustaining and strengthening its relationships with manufacturing companions and clients; the Firm’s funding plans and techniques, fluctuations within the Firm’s quarterly working outcomes; competitors in its trade in China; and related authorities insurance policies and laws referring to the Firm and cryptocurrency. Additional info concerning these and different dangers is included within the Firm’s filings with the SEC, together with its registration assertion on Kind F−1, as amended, and its annual stories on Kind 20−F, as amended. All info supplied on this press launch and within the attachments is as of the date of this press launch, and Canaan Inc. doesn’t undertake any obligation to replace any ahead−trying assertion, besides as required below relevant legislation.

Investor Relations Contact

Canaan Inc.
Ms. Xi Zhang
Electronic mail: [email protected]

Robin Yang
Tel: +1 (347) 396-3281
Electronic mail: [email protected]

SOURCE Canaan Inc.

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