Canaan Technology Completes US$200 Million Series A-1 Preferred Stock Financing

Odaily News Canaan Technology announced that it has received $200 million in funding through its Series A-1 preferred stock financing. The company announced on Monday that it has reached a securities purchase agreement with an institutional investor and will receive an initial $100 million in funding after the first round of funding is settled on March 10. It is expected to receive another $100 million in the near future, subject to certain conditions. The funds will support Canaan Technology's research and development, production expansion, and digital mining infrastructure investment in North America. (TheMinerMag)