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Canaan Creative

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Canaan Creative
Company 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

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]

Initially, Canaan mainly developed FPGA products based on the SHA-256 algorithm. After that, it released Avalon Blockchain ASIC.[citation needed] 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. ^ a b "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. ^ a b "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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