CAN

Canaan Inc. is a technology company that designs and manufactures application-specific integrated circuits for cryptocurrency mining and high-performance computing applications. Headquartered in Hangzhou, China, with operations globally, Canaan is known for producing ASIC chips optimized for Bitcoin mining. The company designs, manufactures, and sells computing hardware products under the Avalon brand, including mining machines used by cryptocurrency miners to solve complex mathematical problems and validate blockchain transactions. Canaan operates its own chip design facilities and partners with semiconductor foundries for chip fabrication. The company sells mining equipment directly to customers and through distribution channels worldwide. Canaan's business is closely tied to cryptocurrency market conditions, as demand for mining equipment correlates with Bitcoin prices, network difficulty, and mining profitability. The company has expanded beyond Bitcoin mining hardware to explore applications in artificial intelligence and high-performance computing. Canaan employs engineers specialized in semiconductor design, system architecture, and power management. The company faces competition from other ASIC manufacturers and must continuously innovate to improve chip efficiency and performance as cryptocurrency mining difficulty increases and technology advances. Canaan was among the first Bitcoin mining hardware companies to complete a U.S. initial public offering.