Canaan Secures $200M to Expand Bitcoin Mining in North America
- Canaan Inc raised $200 million through Series A-1 preferred shares.
- An institutional investor contributed $100 million in the first tranche.
- Funds will enhance research, production capacity, and digital infrastructure.
- The company aims for a hash rate of 10 EH/s by mid-2025.
- Nangeng Zhang is the CEO of Canaan Inc.
Canaan Inc has raised $200 million to expand its Bitcoin mining operations in North America, with an initial $100 million investment from an institutional investor. The funds will support research and infrastructure development, aiming for a hash rate of 10 EH/s by mid-2025 under CEO Nangeng Zhang’s leadership.
Source (2.6)https://hodl.press/canaan-secures-200m-to-expand-mining-in-north-america/?rand=24434
