TechFlow news, March 11 — According to The Miner Mag, Canaan Inc. has secured up to $200 million in funding through its Series A-1 preferred stock financing. The company completed the first tranche of $100 million on March 10, with the remaining $100 million expected to be disbursed upon meeting certain conditions.
The funds will support Canaan's research and development, capacity expansion, and investments in digital mining infrastructure in North America. Canaan CEO Nangeng Zhang reaffirmed confidence in Bitcoin's long-term potential and stated the company aims to scale its proprietary North American mining operations to 10 EH/s by mid-2025.
Add to Favorites
Share to Social Media
