Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
November 14 2024 - 4:05PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of November 2024
Commission File Number: 001-39127
Canaan Inc.
28 Ayer Rajah Crescent
#06-08
Singapore 139959
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F
x Form 40-F ¨
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
Exhibit Index
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
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Canaan Inc. |
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By: |
/s/
Nangeng Zhang |
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Name: |
Nangeng Zhang |
|
Title: |
Chairman and Chief Executive Officer |
Date:
November 14, 2024
Exhibit 99.1
Canaan Inc. Signs Agreement with HIVE for Avalon A1566 Miners
Continues
North American Expansion with Order from Long-term Customer
SINGAPORE, November 11, 2024 /PRNewswire/
-- Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), a leading high-performance computing solutions
provider, today announced that Canaan Creative Global Pte. Ltd. (“CCG”), a wholly owned Singapore subsidiary of the Company,
has entered into a purchase agreement with HIVE Digital Technologies Ltd (“HIVE”), for its Avalon A1566 miners.
According to the purchase agreement, CCG will provide HIVE with
6,500 Avalon A1566 miners, with an average computing power of 185 Terahash per second (TH/s). Of the 6,500 A1566 miners, 500
miners have been immediately delivered and are scheduled for installation. The remaining 6,000 machines will be delivered in four monthly
shipments of 1,500 units, from December 2024 through March 2025.
“We would like to thank HIVE for choosing
Canaan’s mining solutions for their operations. Securing a significant order is always rewarding, but it is even more gratifying
when it comes from HIVE — a long-standing customer and a pioneer in Bitcoin mining. With a highly skilled, global team, HIVE has
been able to maximize the utilization rate of its mining sites, resulting in some of the highest Bitcoin production per active hashrate
in the industry,” said Nangeng Zhang, chairman and CEO of Canaan. “HIVE is an important partner, especially given their commitment
to transparency in business and their strong focus on ESG principles. We can all learn from them as a leading player in their field.”
The Avalon Miner A1566 is the second generation
of 1xJ/T series products released by Canaan. Designed to provide a more dependable mining experience, the A1566 sets a new benchmark in
performance with improved power efficiency and is the result of Canaan’s ongoing market research and its investment in product development.
About Canaan Inc.
Established in 2013, Canaan Inc. (NASDAQ: CAN),
is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production,
and software services. Canaan has extensive experience in chip design and streamlined production in the ASIC field. In 2013, Canaan's
founding team shipped to its customers the world's first batch of mining machines incorporating ASIC technology in bitcoin's history under
the brand name Avalon. In 2019, Canaan completed its initial public offering on the Nasdaq Global Market. To learn more about Canaan,
please visit https://www.canaan.io/.
Safe Harbor Statement
This press release contains forward−looking
statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform
Act of 1995. These forward−looking statements can be identified by terminology such as “will,” “expects,”
“anticipates,” “future,” “intends,” “plans,” “believes,” “estimates”
and similar statements. Among other things, Canaan Inc.’s anticipated financing plans and its intended use of proceeds contain forward−looking
statements. Canaan Inc. may also make written or oral forward−looking statements in its periodic reports to the U.S. Securities
and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases
and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are
not historical facts, including statements about Canaan Inc.’s beliefs and expectations, are forward−looking statements. Forward−looking
statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained
in any forward−looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s
future business development, financial condition and results of operations; the expected growth of the bitcoin industry and the price
of bitcoin; the Company’s expectations regarding demand for and market acceptance of its products, especially its bitcoin mining
machines; the Company’s expectations regarding maintaining and strengthening its relationships with production partners and customers;
the Company’s investment plans and strategies, fluctuations in the Company’s quarterly operating results; competition in its
industry in China; and relevant government policies and regulations relating to the Company and cryptocurrency. Further information regarding
these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the
attachments is as of the date of this press release, and Canaan Inc. does not undertake any obligation to update any forward−looking
statement, except as required under applicable law.
###
Investor Relations Contact
Canaan Inc.
Xi Zhang
Email: IR@canaan-creative.com
ICR, LLC.
Robin Yang
Tel: +1 (347) 396-3281
Email: canaan.ir@icrinc.com
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