Canaan Creative

Canaan Creative, known simply as Canaan, is a China-based computer hardware manufacturer. Established in 2013 by N.G. Zhang, [2] Canaan specializes in Blockchain servers and ASIC microprocessor solutions [3] for use in bitcoin mining. [4]

Canaan Creative
TypePrivate company
IndustryConsumer electronics
Computer hardware
Founded2013
FounderN.G. Zhang[1]
Headquarters
Beijing, China
Area served
globally
Key people
N.G. Zhang
ProductsComputer Processors
Computer Hardware
Number of employees
more than 300
Websitecanaan.io

Initially, Canaan mainly developed FPGA products based on the SHA-256 algorithm. After that, it released Avalon Blockchain ASIC. In 2018, Canaan's 7nm chips, and K210 chips, which are based on RISC-V, achieved mass production. [5]

History

In 2013, during studying for a doctor's degree, [6] N.G. Zhang established Canaan Creative, where he served as the chairman and CEO. [7]

In 2016, Canaan attempted a reverse takeover for $466 Millions USD by Shandong Luyitong, a public company listed on the Shenzhen Stock Exchange.[7]

In January 2019, reports surfaced that Canaan is considering an IPO in the United States.[4] Canaan raised $90 million in their November 2019 IPO.[8]

Canaan was listed on Nasdaq in 2019.

References
  1. "A company that sold 300,000 bitcoin mining rigs last year is seeking the largest crypto IPO ever". Quartz. May 16, 2018.
  2. "Cryptocurrency miner Canaan eyes IPO; bets on China's push for chip industry". Reuters. April 6, 2018.
  3. Lee David Kuo Chuen; Low Linda (21 June 2018). Inclusive FinTech: Blockchain, Cryptocurrency and ICO. World Scientific. pp. 187–. ISBN 978-981-323-865-7.
  4. "Bitcoin Mining Chip Maker Canaan Considers U.S. IPO". Bloomberg News. January 8, 2019. Archived from the original on July 7, 2019.
  5. "Canaan Creates a Domestic AI Ecological Chain". Xinhuanet.com. 2019-06-28.
  6. "Canaan gave up the listing of the New Third Board Bitcoin mining machine enterprises collectively disappeared". Sina.com. March 20, 2018.
  7. "Bitcoin Mining Rig Maker Canaan Files for $1 Billion IPO". Bloomberg.com. May 15, 2018. Archived from the original on April 3, 2019.
  8. Tse, Crystal (November 20, 2019). "Bitcoin Mining Firm Canaan Ends Trading Debut Flat After IPO". Bloomberg.
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