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Canaan Technology obtained a strategic investment of $72 million, with participation from Galaxy Digital and others.
According to Mars Finance news, on November 5, it was reported by PR Newswire that Bitcoin mining company Canaan Inc. received a strategic investment of a total of $72 million from three well-known institutional investors: Brevan Howard, Galaxy Digital, and Weiss Asset Management. This investment was made in the form of direct equity, with an ADS price of $1.131 per share, without involving warrants or other derivative instruments. Previously, on November 4, Canaan Inc. announced that it would raise $72 million by issuing and selling a total of 63,660,477 American Depositary Shares (ADS), with the net proceeds to be used for the acquisition and development of data centers and facilities in the North American market, expanding Bitcoin Mining Rig production capacity, as well as sales, R&D of Bitcoin Mining Rigs, and other general corporate purposes.