Canaan plans to raise $72 million for North American data center and mining machine expansion.

Jinse Finance reported that cryptocurrency mining machine manufacturer Canaan has announced it will issue approximately 63.66 million American Depositary Shares (ADS) to specific investors through a Registered Direct Offering, at a price of $1.131 per share, raising a total of about $72 million. The offering is expected to be completed by November 6, 2025. The funds raised will primarily be used for acquiring and constructing data centers in North America, expanding bitcoin mining machine production capacity, supporting digital mining farm deployment and mining machine sales, as well as for research and development and other general corporate purposes.