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Provides 2000 A15 Hydro Bitcoin mining machines in initial order Continues global expansion with addition of new customer SINGAPORE , Dec. 12, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that Canaan Creative Global Pte. Ltd. ("CCG"), a wholly owned Singapore subsidiary of the Company, has entered into a purchase agreement with AGM Group Holdings Inc. ("AGMH"), an integrated technology company specializing in fintech software services and production of high-performance hardware and computing equipment, for its Avalon A15 HydU 370T ("A15 Hydro") mining machines. As part of the agreement, Canaan will initially provide 2,000 Bitcoin mining machines to AGMH. The Company has also agreed to provide its customer with an option to acquire approximately 30,000 additional BTC mining units, potentially providing AGMH with a combined power capacity not exceeding 300 megawatts. The Avalon Miner A15 Hydro enhances the miner's performance and lifespan while reducing energy consumption and noise pollution, aligning with Canaan's ESG (Environmental, Social, and Governance) strategy. About Canaan Inc. Established in 2013, Canaan Inc. (NASDAQ: CAN), is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. Canaan has extensive experience in chip design and streamlined production in the ASIC field. In 2013, Canaan's founding team shipped to its customers the world's first batch of mining machines incorporating ASIC technology in bitcoin 's history under the brand name Avalon. In 2019, Canaan completed its initial public offering on the Nasdaq Global Market. To learn more about Canaan, please visit https://www.canaan.io/ . Safe Harbor Statement This announcement contains forward−looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward−looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Canaan Inc.'s strategic and operational plans, contain forward−looking statements. Canaan Inc. may also make written or oral forward−looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC") on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Canaan Inc.'s beliefs and expectations, are forward−looking statements. Forward−looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company's goals and strategies; the Company's future business development, financial condition and results of operations; the expected growth of the bitcoin industry and the price of bitcoin ; the Company's expectations regarding demand for and market acceptance of its products, especially its bitcoin mining machines; the Company's expectations regarding maintaining and strengthening its relationships with production partners and customers; the Company's investment plans and strategies, fluctuations in the Company's quarterly operating results; competition in its industry; and relevant government policies and regulations relating to the Company and cryptocurrency . Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Canaan Inc. does not undertake any obligation to update any forward−looking statement, except as required under applicable law. Investor Relations Contacts Canaan Inc. Xi Zhang Email: IR@canaan-creative.com ICR, LLC. Robin Yang Tel: +1 (347) 396-3281 Email: canaan.ir@icrinc.com View original content: https://www.prnewswire.com/news-releases/canaan-inc-signs-agreement-with-agm-group-holdings-inc-302330362.html SOURCE Canaan Inc.Indy Autonomous Challenge Returns to CES 2025: Showcasing the Future of Physical AI with Multicar Racing and Groundbreaking Collaborations

NATO and Ukraine to hold emergency talks after Russian attack with hypersonic missileLAS VEGAS — There are three races remaining in the Formula 1 season and Max Verstappen of Red Bull is close to a fourth consecutive world championship, which can wrap up Saturday night at the Las Vegas Grand Prix. All is not smooth sailing headed into this final month of racing: "It was a bit of a surprise, I think, for everybody," said Mercedes driver George Russell, a GPDA director. "It's a hell of a lot of pressure now onto the new race director (with) just three races left. Often, as drivers, we probably feel like we're the last to find out this sort of information." The Andretti team is expected to receive F1 approval to join the grid, albeit without Michael Andretti, who has scaled back his role dramatically since the IndyCar season ended in September. Many drivers, particularly seven-time champion Lewis Hamilton, have been at odds with FIA President Mohammed Ben Sulayem since his election following the 2021 season finale. In the GDPA statement, they reminded the sanctioning body "our members are adults" who don't need lectures and fines on foul language or jewelry bans, and simply want fair and consistent race control. There's been no response from Ben Sulayem, and won't be this weekend since he does not attend the LVGP. He will be at Qatar and the finale in Abu Dhabi next month. Hamilton doesn't think all the behind-the-scenes changes will be a fan topic as the season comes to a close. But he noted that consistency from race control is all the drivers have asked for, while throwing his support behind Domenicali and the job Maffei has done in growing F1 since Liberty took over. "I really hope Stefano is not leaving because he's been so instrumental in changes and progress to this whole thing," Hamilton said. "And he knows the sport as well as anyone. But all good things do come to an end, and whoever they put into place, I just hope they are like-minded. But sometimes you have to shake the trees." That's just what happened with the surprise departure of race director Wittich. Although drivers have been unhappy with race officiating this season and held a private GPDA meeting in Mexico City, Russell said they had no prior warning Wittich was out. The race director is the referee each weekend and Wittich has been in charge since 2022, when Michael Masi was fired following the controversial 2021 season-ending, championship-altering finale at Abu Dhabi. Now the man in charge for the final three races is Rui Marques, the Formula 2 and Formula 3 race director. Las Vegas, which overcame multiple stumbling blocks in last year's debut before putting on one of the best races of the season, is a difficult place to start. Verstappen can win his fourth title by simply scoring three points more than Lando Norris of McLaren. "It's a bit weird with three races to go to do that," Verstappen said. "It doesn't matter if you're positive or negative about certain things. I thought in Brazil there was definitely room for improvement, for example. It's still a bit weird having to now then deal with a different race director." Charles Leclerc of Ferrari wondered why the move was made with only three races to go. "To do it so late in the season, at such a crucial moment of the season, it could have probably been managed in a better way," he said. The drivers have consistently asked for clearer guidelines in the officiating of races, specifically regarding track limits and racing rules. The drivers have no idea how Marques will officiate, highlighting a disconnect between the competitors and Ben Sulaymen's FIA. "We just want to be transparent with the FIA and have this dialogue that is happening," Russell said. "And I think the departure of Niels is also a prime example of not being a part of these conversations." The GDPA statement made clear the drivers do not think their voice is being heard. "If we feel we're being listened to, and some of the changes that we are requesting are implemented, because ultimately we're only doing it for the benefit of the sport, then maybe our confidence will increase," Russell said. "But I think there's a number of drivers who feel a bit fed up with the whole situation. It only seems to be going in the wrong direction." He also said the relationship between the drivers and the FIA seems fractured. "Sometimes just hiring and firing is not the solution," he said. "You need to work together to improve the problem." Norris, who has battled Verstappen this year with mixed officiating rulings, said "obviously things are not running as smoothly as what we would want." Marques has his first driver meeting ahead of Thursday night's two practice sessions and then three weeks to prove to the competitors he is up for the job. Carlos Sainz Jr., who will leave Ferrari for Williams at the end of the season, hopes the drama doesn't distract from the momentum F1 has built over the last five years. "I think Formula 1 is in a great moment right now and all these rumors, I think in every team, every job, there's job changes," he said. "It's not big drama. I'm a big fan of the people you mentioned, they've done an incredible job in Formula 1 and Formula 1 is what it is thanks to these people. But it's just so emotional, especially the Stefano one. The only one that has a real effect is the race director. But I think if he does a good job, it should be transparent and nothing big." Get local news delivered to your inbox!Lawyers, loyalists and Wall Street executives – a look at who’s on Trump’s tariff team