Canaan, the First Nasdaq-listed Manufacturer of Mining Rigs, Joins the Kazakhstan Association of Blockchain Technologies

Canaan Inc. (Nasdaq: CAN) the world’s first Nasdaq-listed manufacturer of mining rigs, has officially become a member of the Kazakhstan Association of Blockchain Technologies and Data Centers. The announcement was unveiled on a meeting held on 13th March 2024, in Astana, Kazakhstan, between Dauren Karashev, Chief Executive of the Kazakhstan Association of Blockchain Technologies and Data Centers, and Davis Hui, Vice President of Canaan.

During the meeting, the parties signed an agreement on Canaan’s membership in the Kazakhstan Association of Blockchain Technologies and Data Centers.

Davis Hui, Vice President of Canaan, emphasized that the Kazakh digital mining market is engaging for Canaan and expressed confidence that Kazakhstan could emerge as the main crypto hub in the Central Asia.

At the meeting, points of cooperation in the field of qualitative updating of equipment for digital mining of Kazakhstani digital miners, improving the efficiency of their work in anticipation of the upcoming “Bitcoin halving”, increasing energy efficiency while reducing the carbon footprint were discussed.

Dauren Karashev, Chief Executive of KABT, noted that today, with the direct participation of the Association, a legislative framework has been created, according to which the Association playing a pivotal role in ensuring that digital miners positively impact the country's energy system, fostering stability and reliability.

“Our next priority is to provide digital miners with uninterrupted power, with a priority on green energy, reducing our carbon footprint through the use of the latest digital mining equipment. For the largest digital miners - members of our Association - cooperation with a world-class company like Canaan is a strategic achievement,” noted D. Karashev.

About Canaan Inc.

Canaan Inc. (Nasdaq: CAN) is a leading provider of high-performance ASIC chips and mining rigs, specializing in blockchain technology. The company is dedicated to the research and development of high-performance ASIC computing chips and mining rigs with a strong focus on promoting green mining practices.

As a Nasdaq-listed company, Canaan holds the distinction of being the world's "first blockchain stock company". Canaan is committed to harnessing ASIC and blockchain technologies to achieve its mission of "High-performance Computing in Blockchain is What We Do, Social Enrichment is Why We Do," positioning itself as a leader in high-performance computing for blockchain.