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Canaan Technology will raise $72 million through the issuance and sale of American Depositary Shares.

ChainCatcher news, Nasdaq-listed Bitcoin mining company Canaan Inc. announced that it will raise $72 million by issuing and selling a total of 63,660,477 American Depositary Shares (ADS). The net proceeds will be used for the acquisition and development of data centers and facilities in the North American market, expanding Mining Rig production capacity, as well as for the sales, research and development of Mining Rigs, and other general corporate purposes.

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