Kevin Cassidy

Kevin Dede

Nick Giles

Bill Papanastasiou

Joe Flynn

Mark Palmer

Mike Grondahl

Abdullah Dilawar

Edward Engel

Fedorchak Belen

Fedor Shabalin

John Sodaro

John Todaro

Logan Hennen

Michael Donovan

Mike Gundahl

- **Canaan Inc.** has secured a **4.5-megawatt sales contract** with an electrical engineering solutions provider to deploy its **Avalon A1566HA-488T hydro-cooled mining servers** in Japan.  **[1780652_20251030CN11075:0]** 
- The servers will be used by a major regional utility for **real-time grid balancing and energy-efficiency optimization**, with operations beginning by the **end of 2025**.  **[1780652_20251030CN11075:0]** 
- This project highlights Canaan's role in **AI infrastructure, renewable energy, and blockchain computing**, leveraging Bitcoin mining as a **digital load balancer** to improve energy sustainability and grid efficiency.  **[1780652_20251030CN11075:0]**

Canaan Inc. Wins 4.5 MW Mining Server Contract in Japan

- Canaan Inc. officially launched its **Avalon A16 series** bitcoin mining machine on **October 28, 2025**, at the Blockchain Life 2025 summit.  **[1780652_0001104659-25-103380_tm2529626d1_ex99-1.htm:0]** 
- The new **Avalon A16XP** air-cooled model delivers **300 terahash per second (TH/s)** of computing power and an energy efficiency of **12.8 joules per terahash (J/TH)**.  **[1780652_0001104659-25-103380_tm2529626d1_ex99-1.htm:0]** 
- The A16 series mining machines are now available for **pre-order** and will ship from production centers in North America, East Asia, and Southeast Asia.  **[1780652_0001104659-25-103380_tm2529626d1_ex99-1.htm:0]** 
- This product launch reinforces Canaan's **vertical integration** across the bitcoin value chain, from ASIC design to hardware sales.  **[1780652_0001104659-25-103380_tm2529626d1_ex99-1.htm:0]**

Canaan Inc. Unveils Next-Gen Avalon A16 Series Bitcoin Mining Machine

- Canaan Inc. launched its latest bitcoin mining machine, the **Avalon A16 series**, specifically the **Avalon A16XP** air-cooled model, at the Blockchain Life 2025 summit in Dubai on **October 28, 2025**.  **[1780652_20251028CN08854:0]** 
- The A16XP delivers **300 terahash per second (TH/s)** of computing power per unit with an energy efficiency of **12.8 joules per terahash (J/TH)**.  **[1780652_20251028CN08854:0]** 
- The new A16 series mining machines are **now available for pre-order** and will ship from the Company's production centers in North America, East Asia, and Southeast Asia.  **[1780652_20251028CN08854:0]** 
- This product launch reinforces Canaan's **vertical integration** across the bitcoin value chain, from ASIC design and hardware sales to self-mining operations and bitcoin treasury management.  **[1780652_20251028CN08854:0]**

- Canaan Inc. has initiated a new **at-the-market (ATM) equity offering program** to sell up to an aggregate of **US$270 million** in American depositary shares (ADSs).  **[1780652_0001104659-25-102128_tm2529349d1_6k.htm:1]** 
- The company plans to use the net proceeds primarily for the **acquisition and development of North American data center sites**, **expansion of Bitcoin mining machine production capacity**, and **research and development**.  **[1780652_0001104659-25-102128_tm2529349d1_6k.htm:1]** 
- This new program, established on **October 24, 2025**, follows the termination of a previous ATM agreement, under which Canaan sold **21,088,579 ADSs** for approximately **US$42.5 million** in net proceeds at an average price of **US$2.08 per ADS** from December 23, 2024, to February 19, 2025.  **[1780652_0001104659-25-102128_tm2529349d1_6k.htm:1]** **[1780652_0001104659-25-102128_tm2529349d1_6k.htm:2]** **[1780652_0001104659-25-102128_tm2529349d1_ex1-1.htm:59]**

Canaan refreshes at-the-market program to fund growth initiatives

- Canaan Inc. received notification on **October 15, 2025**, that it has **regained compliance** with the Nasdaq Minimum Bid Price Requirement of **US$1.00 per American depositary share (ADS)**.  **[1780652_0001104659-25-099928_tm2528865d1_ex99-1.htm:0]** 
- This compliance was confirmed after the company's ADSs maintained a closing bid price of **US$1.00 or greater for 10 consecutive business days** from October 1 to October 15, 2025, leading Nasdaq to consider the matter closed.  **[1780652_0001104659-25-099928_tm2528865d1_ex99-1.htm:0]** 
- Chairman and CEO Nangeng Zhang highlighted strong operational execution and strategic initiatives, including a **U.S. order for over 50,000 Avalon® A15 Pro bitcoin miners**, a **"Gas-to-Computing" initiative in Alberta, Canada**, and a partnership with Soluna to deploy 20MW of Avalon miners.  **[1780652_0001104659-25-099928_tm2528865d1_ex99-1.htm:0]**

Canaan Inc. Regains Nasdaq Minimum Bid Price Compliance

- **Canaan Inc.** (NASDAQ: CAN) received a notification on **October 15, 2025**, confirming it has regained compliance with the Nasdaq minimum bid price requirement.  **[1780652_20251016CN99611:0]** 
- The company's American depositary shares (ADSs) maintained a closing bid price of **US$1.00 or greater** for **10 consecutive business days** from October 1 to October 15, 2025, leading Nasdaq to consider the matter closed.  **[1780652_20251016CN99611:0]** 
- CEO Nangeng Zhang noted that regaining compliance underscores market confidence and highlighted recent strategic initiatives, including a **U.S. order for over 50,000 Avalon® A15 Pro bitcoin miners** and a "Gas-to-Computing" initiative.  **[1780652_20251016CN99611:0]**

Canaan Regains Nasdaq Minimum Bid Price Compliance

- **Canaan Inc.** has launched an innovative **gas-to-computing pilot project** in Calgary, Alberta, Canada, through a joint mining agreement with **Aurora AZ Energy Ltd.**  **[1780652_0001104659-25-098857_tm2528613d1_ex99-1.htm:0]** 
- The initiative aims to convert **flared natural gas** into low-cost power for high-density computing, deploying **700 Avalon A15 Pro miners** to provide approximately **2.5 megawatts (MW)** of computing capacity.  **[1780652_0001104659-25-098857_tm2528613d1_ex99-1.htm:0]** 
- The project is designed for **90% uptime** and is expected to reduce **12,000 to 14,000 metric tons of CO2-equivalent emissions annually** by utilizing natural gas that would otherwise be flared.  **[1780652_0001104659-25-098857_tm2528613d1_ex99-1.htm:0]**

Canaan Inc. Launches Gas-to-Computing Pilot in Canada

- Canaan Inc. (NASDAQ: CAN) announced on **October 13, 2025**, the launch of a pilot mining project in Calgary, Alberta, Canada, through a joint agreement with Aurora AZ Energy Ltd.  **[1780652_20251013CN95920:0]** 
- This initiative aims to convert distributed natural gas resources, such as wellhead gas, into reliable, cost-efficient power for high-density computing environments, including bitcoin mining and AI data centers.  **[1780652_20251013CN95920:0]** **[1780652_20251013CN95920:1]** 
- The project involves the deployment of over **$2 million** of Avalon® A15 Pro miners and containerized data modules, with **700 units** expected to provide approximately **2.5 megawatts (MW)** of computing capacity.  **[1780652_20251013CN95920:0]** 
- The project is designed to eliminate an estimated **12,000 to 14,000 metric tons of CO2-equivalent emissions** annually by utilizing natural gas that would otherwise be flared.  **[1780652_20251013CN95920:0]**

Canaan Inc. Launches Gas-to-Computing Pilot Project in Canada

- Canaan Inc. mined **92 bitcoins** during September 2025.  **[1780652_0001104659-25-098564_tm2528513d1_ex99-1.htm:0]** 
- The company's cryptocurrency treasury reached a record high of **1,582 BTC and 2,830 ETH** at the end of September 2025.  **[1780652_0001104659-25-098564_tm2528513d1_ex99-1.htm:0]** 
- Deployed hashrate increased to a historic high of **9.30 EH/s**, with **7.84 EH/s** in operation as of September 30, 2025.  **[1780652_0001104659-25-098564_tm2528513d1_ex99-1.htm:0]** 
- Canaan secured its **largest miner order in three years** for over **50,000 Avalon A15 Pro miners** from a U.S.-based operator, with delivery scheduled for Q4 2025.  **[1780652_0001104659-25-098564_tm2528513d1_ex99-1.htm:0]** **[1780652_0001104659-25-098564_tm2528513d1_ex99-1.htm:1]** 
- A new **20 MW partnership with Soluna Holdings** was announced to deploy Avalon A15 XP Bitcoin miners at a wind-powered data center in Texas, with deployment expected in Q1 2026.  **[1780652_0001104659-25-098564_tm2528513d1_ex99-1.htm:0]** **[1780652_0001104659-25-098564_tm2528513d1_ex99-1.htm:1]**

Canaan Inc. Provides September 2025 Bitcoin Production and Mining Operation Updates

- Canaan Inc.'s deployed hashrate reached a historic high of **9.30 EH/s** and its cryptocurrency treasury grew to **1,582 BTC and 2,830 ETH** as of September 30, 2025.  **[1780652_20251010CN94980:0]** 
- The company mined **92 bitcoins** during September 2025, with North American mining efficiency improving to **19.7 J/TH**.  **[1780652_20251010CN94980:0]** 
- Canaan secured a landmark U.S. purchase order for **over 50,000 Avalon A15 Pro miners**, its largest single order in three years, with delivery scheduled for Q4 2025.  **[1780652_20251010CN94980:0]** **[1780652_20251010CN94980:1]** 
- A strategic partnership was announced with Soluna Holdings to deploy **20 MW of Avalon A15 XP Bitcoin miners** at a wind-powered data center in Texas, with deployment expected in Q1 2026.  **[1780652_20251010CN94980:1]**

Canaan (CAN)