Canaan Inc. received a $72 million investment from Brevan Howard, Galaxy, and Weiss.

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[Canaan Creative Receives $72 Million Investment from Brevan Howard, Galaxy, and Weiss] Bitcoin mining rig manufacturer Canaan has secured a $72 million equity investment from Brevan Howard, Galaxy Digital, and Weiss Asset Management, aimed at deepening its partnerships with institutional investors. Jia Neng Yun Zhi announced on Tuesday that the investment was completed by purchasing 63.7 million American Depositary Shares (ADS) at a price of $1.131 per share, with each ADS corresponding to 15 shares of Class A common stock. The company pointed out that this transaction does not involve warrants, options, or other derivative instruments, and is a direct equity transaction, highlighting investors' confidence in the company's fundamentals. Canaan Creative stated that this financing will strengthen its balance sheet and reduce reliance on future “market-based issuance” or other dilutive financing methods. On the day the announcement was made, Canaan's stock price fell by 15%, consistent with the overall market trend of declining Bitcoin-related stocks.

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