Canaan Attracts US$72 Million Strategic Investment from Three Digital Asset Firms

Canaan Inc., a crypto mining technology company, has announced a US$72 million strategic investment from BH Digital (a division of Brevan Howard), Galaxy Digital, and Weiss Asset Management through the purchase of American depositary shares.
 

The transaction involves the sale of 63,660,477 ADSs at US$1.131 per ADS in a registered direct offering, with no warrants, options or derivative instruments included. The closings are expected to take place on 6 November 2025, subject to customary closing conditions.
 

The Singapore-based company, which trades on NASDAQ under the ticker CAN, said the investment marks a shift in its capital markets strategy towards alignment with fundamentals-driven institutional investors.
 

Nangeng Zhang, chairman and chief executive of Canaan, said:

"We are deeply grateful to Brevan Howard, Galaxy Digital, and Weiss Asset Management for their participation. This transaction underscores the Company's growing alignment with institutional investors active in the digital-asset ecosystem. The investment will support Canaan's continued innovation and growth across all areas of its business, reinforcing its commitment to strengthening the Bitcoin ecosystem through every phase of the cycle."

Zhang added that the investment would add approximately 63.7 million ADSs in institutional ownership.

"This investment marks an important milestone for Canaan. It is expected to add approximately 63.7 million ADSs in institutional ownership, reflecting the growing confidence of global investors in our technology, execution, and long-term strategy. Equally notable, this is a straightforward equity investment—common stock with no warrants or derivatives—reflecting the strength of our fundamentals and the trust our new equity investors have in Canaan's future."

The proceeds will be directed towards computing and energy infrastructure projects, whilst strengthening the company's financial position and reducing reliance on at-the-market offerings or other dilutive financing structures.
 

The securities are being offered pursuant to an effective shelf registration statement on Form F-3 (File No. 333-285125) filed with the US Securities and Exchange Commission, which became effective on 21 February 2025.
 

Canaan is a technology company focusing on ASIC high-performance computing chip design, research and development, computing equipment production and software services. The company was established in 2013 and completed its initial public offering on the Nasdaq Global Market in 2019.
 

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