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Canaan ( (CAN) ) has provided an update.
Canaan Inc. has entered into an agreement with AGM Group Holdings Inc. to supply 2,000 A15 Hydro Bitcoin mining machines, with an option for AGMH to purchase an additional 30,000 units. This move is part of Canaan’s strategy to expand its global footprint and enhance its ESG credentials with energy-efficient and low-noise mining solutions, potentially strengthening its position in the cryptocurrency mining industry.
More about Canaan
Canaan Inc., established in 2013 and listed on NASDAQ, is a technology company specializing in the design and production of ASIC high-performance computing chips and equipment, particularly for cryptocurrency mining. Known for its innovative approach in the ASIC field, Canaan has been a pioneer in developing Bitcoin mining machines, notably under the Avalon brand.
YTD Price Performance: 15.15%
Average Trading Volume: 13,243,302
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $783.4M
Learn more about CAN stock on TipRanks’ Stock Analysis page.
