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Jianan Technology Receives $72 Million Strategic Investment, with Participation from Galaxy Digital
BlockBeats News, November 5th, according to MarketWatch, Bitcoin mining firm Canaan received a total of $72 million in strategic investment from three well-known institutional investors: Brevan Howard, Galaxy Digital, and Weiss Asset Management. The investment was made in the form of direct equity at a price of $1.131 per ADS, with no warrants or other derivatives involved.
On November 4th, Canaan announced that it would raise $72 million by issuing and selling a total of 63,660,477 American Depositary Shares (ADS). The net proceeds will be used to acquire and develop data centers and facilities in the North American market, expand Bitcoin mining machine capacity, and for the sale, research and development of Bitcoin mining machines, and other general corporate purposes.
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