Canaan Technology announced that it has completed a $30 million A-1 round of preference share financing

Nasdaq-listed Canaan Inc. announced that it has completed the previously disclosed A-1 round of preference share financing of $30 million. Canaan Technology had signed a securities purchase agreement with an institutional investor on November 19, 2024 to agree to issue and sell 30,000 A-1 series convertible preference shares to it at a price of $1,000.00 per share. It is reported that the new funds are intended to support the development of digital mining and equipment in North America.