Bitcoin mining machine maker Canaan has received a $72 million equity investment from Brevan Howard, Galaxy Digital and Weiss Asset Management in a move aimed at deepening partnerships with institutional investors.
Canaan announced on Tuesday that the investment was completed through the purchase of 63.7 million American depositary shares (ADSs) at a price of $1.131 per share, each of which corresponds to 15 Class A common shares. The company pointed out that the transaction does not involve warrants, options or other derivatives, and is a direct equity transaction that highlights investors' confidence in the company's fundamentals.
Canaan said the fundraising would strengthen its balance sheet and reduce its reliance on future "on-the-market offerings" or other dilutive fundraising methods. On the day of the announcement, Canaan's shares fell 15%, in line with the market trend of generally lower bitcoin-related stocks.
Brevan Howard, Galaxy and Weiss invest $72 million
2025-11-05 02:27:23
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