Canaan Inc. Updates At-the-Market Offering Program

Canaan Inc. (NASDAQ: CAN) has provided an update on its at-the-market (ATM) offering program. The company raised approximately US$7.8 million by selling 4.84 million American depositary shares (ADSs) at an average price of US$1.61 per ADS. Following this, Canaan has decided to pause further ATM sales for the remainder of 2025. The decision to resume sales in 2026 will depend on the company's cash requirements, market conditions, and other relevant factors. Canaan's cash position remains strong, supported by a cryptocurrency treasury of 1,582 bitcoins and 2,830 ETH as of September 30, 2025. Additionally, the company recently launched its latest generation bitcoin mining machine, the Avalon A16 series, which features industry-leading power efficiency and manufacturing quality.