Canaan secures $200M for mining expansion

Bitcoin (BTC) mining hardware maker Canaan Inc. has raised up to $200 million through a Series A-1 Preferred Shares financing, according to TheMinerMag. The company received an initial $100 million on March 10, with another $100 million expected soon. The funds will support research, production expansion and digital mining infrastructure in North America. This follows previous financing rounds, including Bitcoin-backed loans and equity raises totaling $125 million since late 2023.