The post Canaan Inc. Announces $72 Million Direct Offering of ADSs appeared on BitcoinEthereumNews.com. Peter Zhang Nov 04, 2025 20:20 Canaan Inc. (NASDAQ: CAN) announces a $72 million registered direct offering, issuing 63.66 million American depositary shares to expand its crypto mining initiatives. Canaan Inc. (NASDAQ: CAN), recognized for its innovations in crypto mining, has announced a significant financial move with a $72 million registered direct offering. The company has entered into securities purchase agreements with select investors for the issuance of 63,660,477 American depositary shares (ADSs), each representing 15 Class A ordinary shares. The shares are priced at $1.131 per ADS, as stated by Canaan Inc. in a recent announcement. Details of the Offering The offering, expected to close by November 6, 2025, is contingent upon customary closing conditions. The proceeds from this offering are earmarked for various strategic initiatives, including the acquisition and development of data center sites in North America, expanding Bitcoin mining machine production capacity, and supporting the deployment of digital mining sites. Moreover, Canaan plans to invest in research and development, along with other corporate purposes. Securities and Regulatory Filings This transaction is conducted under an effective shelf registration statement on Form F-3, which became effective on February 21, 2025. The offering will be made through a written prospectus and prospectus supplement, which will include detailed information about the ADS offering. These documents will be filed with the U.S. Securities and Exchange Commission (SEC) and will be available on the SEC’s official website. About Canaan Inc. Established in 2013, Canaan Inc. is a technology company that specializes in ASIC high-performance computing chip design, production of computing equipment, and software services. The company is known for its pioneering efforts in crypto mining hardware, having developed the world’s first ASIC-based mining machines under the brand name Avalon. Canaan went public on the Nasdaq… The post Canaan Inc. Announces $72 Million Direct Offering of ADSs appeared on BitcoinEthereumNews.com. Peter Zhang Nov 04, 2025 20:20 Canaan Inc. (NASDAQ: CAN) announces a $72 million registered direct offering, issuing 63.66 million American depositary shares to expand its crypto mining initiatives. Canaan Inc. (NASDAQ: CAN), recognized for its innovations in crypto mining, has announced a significant financial move with a $72 million registered direct offering. The company has entered into securities purchase agreements with select investors for the issuance of 63,660,477 American depositary shares (ADSs), each representing 15 Class A ordinary shares. The shares are priced at $1.131 per ADS, as stated by Canaan Inc. in a recent announcement. Details of the Offering The offering, expected to close by November 6, 2025, is contingent upon customary closing conditions. The proceeds from this offering are earmarked for various strategic initiatives, including the acquisition and development of data center sites in North America, expanding Bitcoin mining machine production capacity, and supporting the deployment of digital mining sites. Moreover, Canaan plans to invest in research and development, along with other corporate purposes. Securities and Regulatory Filings This transaction is conducted under an effective shelf registration statement on Form F-3, which became effective on February 21, 2025. The offering will be made through a written prospectus and prospectus supplement, which will include detailed information about the ADS offering. These documents will be filed with the U.S. Securities and Exchange Commission (SEC) and will be available on the SEC’s official website. About Canaan Inc. Established in 2013, Canaan Inc. is a technology company that specializes in ASIC high-performance computing chip design, production of computing equipment, and software services. The company is known for its pioneering efforts in crypto mining hardware, having developed the world’s first ASIC-based mining machines under the brand name Avalon. Canaan went public on the Nasdaq…