Summary by Moomoo AI
Canaan Inc. announced on Dec. 12, 2024, that its Singapore subsidiary has entered into a purchase agreement with AGM Group Holdings Inc. for Bitcoin mining machines. The initial order includes 2,000 Avalon A15 Hydro 370T mining machines, with an option for AGMH to acquire up to 30,000 additional units, potentially providing a combined power capacity of 300 megawatts.The Avalon Miner A15 Hydro is designed to enhance performance and lifespan while reducing energy consumption and noise pollution, aligning with Canaan's ESG strategy. This agreement marks Canaan's continued global expansion and the addition of a new customer in the high-performance computing solutions market.Canaan, established in 2013 and listed on Nasdaq in 2019, specializes in ASIC high-performance computing chip design, chip R&D, computing equipment production, and software services. The company has a history of innovation in the Bitcoin mining industry, having shipped the world's first batch of ASIC technology-based mining machines in 2013 under the Avalon brand.
