Canaan Inc. Announces New At-The-Market Equity Offering Program

Canaan Inc. (NASDAQ: CAN) has filed a new prospectus supplement to establish an at-the-market (ATM) equity offering program, allowing the company to sell up to $270 million of American Depositary Shares (ADSs). The proceeds from this offering are intended to fund the acquisition and development of data center sites in North America, expand Bitcoin mining machine production capacity, support digital mining site deployment, and for general corporate purposes. The ATM program will be executed through a sales agreement with multiple sales agents, including Macquarie Capital Limited and Needham & Company, LLC. The company has also terminated its previous ATM agreement from December 2024, which had raised approximately $42.5 million.