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

BlockBeats News, November 4th, Nasdaq-listed Bitcoin mining firm 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 to acquire and develop data centers and facilities in the North American market, expand Bitcoin mining machine capacity, and for the sale, research and development, and other general corporate purposes of Bitcoin mining machines.