Canaan to debut ‘industry-redefining’ Bitcoin mining product at Sept. 12 gala

Canaan stated it’ll debut a “groundbreaking, industry-redefining product that may form the way forward for Bitcoin mining” on Sept. 12 at a gala celebrating its tenth anniversary.

“Anticipate an unforgettable occasion with {industry} insights, knowledge-sharing, and networking alternatives,” the corporate wrote in an official announcement. “Esteemed {industry} leaders will information participating discussions on cutting-edge tendencies and pivotal subjects throughout the Bitcoin mining sector,” it added.

Canaan is well-known within the Bitcoin mining sector for creating ASIC mining {hardware}. It reported a troublesome fourth-quarter and full-year monetary outcomes for 2022 — with an enormous decline towards the top of final yr.

Canaan’s inventory worth has declined by greater than 15% over the previous month however is up almost 28% year-to-date.