Jia Nan Technology will raise $72 million through the issuance and sale of American depositary shares

Nasdaq-listed Bitcoin mining company Canaan Inc. announced that it will raise $72 million by issuing and selling a total of 63,660,477 American Depositary Shares (ADS). The net proceeds will be used for acquiring and developing data centers and facilities in the North American market, expanding Bitcoin mining machine production capacity, as well as for the sales, research and development of Bitcoin mining machines, and other general corporate purposes.