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Canaan | 6-K: Canaan Secures Follow-On Purchase Orders from Cipher and Stronghold

SEC announcement ·  Jan 4 00:00
Summary by Moomoo AI
Canaan Inc., a leading high-performance computing solutions provider, has announced securing follow-on purchase orders from Cipher Mining Inc. and Stronghold Digital Mining, Inc. for over 17,000 Bitcoin mining machines. Cipher's joint venture entities have agreed to purchase 16,700 A1466 model Avalon Miners, with delivery expected in April and May 2024 for use in Texas data centers. This follows the successful delivery and installation of 11,000 A1346 model Avalon Miners at Cipher's Odessa data center. Stronghold has purchased 1,100 A1346 model Avalon Miners for its Scrubgrass Plant and has the option to buy an additional 2,500 A1466 model mining machines. Previously, Stronghold had 2,000 A1346 model mining machines delivered and installed at its Patha Creek Plant. The orders, which were finalized in late December 2023, underscore the robust partnerships and...Show More
Canaan Inc., a leading high-performance computing solutions provider, has announced securing follow-on purchase orders from Cipher Mining Inc. and Stronghold Digital Mining, Inc. for over 17,000 Bitcoin mining machines. Cipher's joint venture entities have agreed to purchase 16,700 A1466 model Avalon Miners, with delivery expected in April and May 2024 for use in Texas data centers. This follows the successful delivery and installation of 11,000 A1346 model Avalon Miners at Cipher's Odessa data center. Stronghold has purchased 1,100 A1346 model Avalon Miners for its Scrubgrass Plant and has the option to buy an additional 2,500 A1466 model mining machines. Previously, Stronghold had 2,000 A1346 model mining machines delivered and installed at its Patha Creek Plant. The orders, which were finalized in late December 2023, underscore the robust partnerships and affirm the capabilities of Canaan's new A14 product series. Canaan's CEO, Nangeng Zhang, expressed confidence in the company's technology and product quality, while Cipher's CEO, Tyler Page, and Stronghold's CEO, Greg Beard, praised the performance and efficiency of Canaan's mining machines. Canaan, established in 2013 and listed on the Nasdaq Global Market in 2019, specializes in ASIC high-performance computing chip design and production.

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