Canaan Inc.

Canaan Inc. is a Chinese technology company that specializes in manufacturing and selling blockchain hardware and solutions. Founded in 2013 by Nangeng Zhang, the company is based in Hangzhou, China. Canaan is one of the early players in the cryptocurrency mining industry and is known for producing high-performance ASIC (Application-Specific Integrated Circuit) mining machines.

Canaan's flagship product line is the AvalonMiner series, which consists of powerful mining rigs designed to efficiently mine cryptocurrencies such as Bitcoin and other cryptocurrencies that use the SHA-256 hashing algorithm. These mining machines are crucial for the process of adding new blocks to blockchain networks and validating transactions on decentralized networks.

The company's dedication to research and development has allowed it to stay competitive in the fast-evolving cryptocurrency market. As the demand for cryptocurrency mining hardware surged, Canaan saw significant growth, and its products gained popularity among miners globally.

Canaan's IPO took place on the NASDAQ stock exchange in November 2019 under the ticker symbol "CAN." The IPO was a significant event for the company as it aimed to expand its business operations and strengthen its position in the cryptocurrency mining industry.

Founded: 2013

Headquarters: Hangzhou, China
Twitter: https://twitter.com/canaanio?
Website: https://www.canaan.io/