Canaan Inc. Completes US$7.8 Million ATM Offering, Plans to Pause Further Sales Through 2025

Canaan Inc. has raised approximately $7.8 million through its at-the-market offering program at an average price of $1.61 per ADS. The company has ceased further sales under the program for the remainder of 2025 and will reassess in 2026 based on cash requirements, market conditions, and other factors. Canaan's cash position remains solid, supported by business momentum and a cryptocurrency treasury of 1,582 bitcoins and 2,830 ETH.