Canaan : Launches the Third Generation of Immersion Cooling Avalon Miner A1566I at Mining Disrupt 2024

Miami, Florida, U.S., June 25, 2024 - Canaan Inc. (NASDAQ: CAN), the creator of ASIC Bitcoin miners, unveiled its latest advancement, the Avalon Immersion Cooling Miner A1566I, at the esteemed Mining Disrupt 2024 in Miami, Florida. Ning Zhang, Canaan's Vice President and General Manager of Canaan U.S., presented the state-of-the-art miner, underscoring its exceptional performance and efficiency.

As the creator of the world's first Bitcoin ASIC miner, Canaan never stops its development on products.From Avalon A1 to A1566, Canaan consistantly upgrade its products as tributes to the bitcoin society. The Avalon Immersion Cooling Miner A1566I boasts a hash rate of 249T and an energy efficiency of 19J/TH with a power consumption of 4500W. Designed to operate in extreme temperatures ranging from 20°C to 50°C, this third-generation immersion-cooled miner leverages advanced cooling technology to enhance heat dissipation and mining efficiency. Canaan continues to set industry benchmarks with its cutting-edge immersion cooling solutions, delivering superior options for Bitcoin miners. Mr. Ning Zhang expressed his enthusiasm: "We are thrilled to introduce the Avalon Miner A1566I. This product epitomizes our commitment to technological innovation and delivering efficient, environmentally friendly mining solutions to our customers."

Performance and Technological Breakthrough The Avalon Immersion Cooling Miner A1566I represents a significant leap in immersion cooling technology. With a remarkable hash rate of 249T, it can perform 249 trillion hash calculations per second. This next-generation miner significantly improves energy efficiency and cooling capabilities, making it ideal for demanding mining operations.

The Avalon Miner A1566I's cooling mechanism utilizes custom cooling oil for heat exchange, ensuring the miner operates at a stable temperature. This approach dramatically enhances heat dissipation and noise reduction, meanwhile, optimizes its energy consumption to a new standard for mining efficiency.
Key Features of Avalon Immersion Cooling Miner A1566I

• Power Efficiency: With a power consumption of 4500W and an energy efficiency of 19J/TH, the Avalon Miner A1566I maximizes mining output while minimizing operational costs.
• Innovative Design: Enhanced chip technology improves stability and performance, reducing the energy efficiency ratio to 19J/TH. The rear mesh exhaust design replaces traditional fans, significantly lowering noise levels.
• High ROI: The Avalon Miner A1566I's high hash rate and low power consumption are poised to increase profitability, especially post-Bitcoin's fourth halving.
• Versatile Operating Conditions: Capable of operating in temperatures from 20°C to 50°C with a voltage range of 220-277V, the Avalon Miner A1566I is adaptable to various environments. Its lightweight design (11kg) facilitates easy transport and installation.

New Policies to Encourage Green Mining The Avalon Miner A1566I is engineered to meet the global demand for high-efficiency, stable mining equipment, particularly in regions with variable temperatures and power supplies. The immersion cooling technology enhances the miner's performance and lifespan while reducing energy consumption and noise pollution, aligning with Canaan's ESG (Environmental, Social, and Governance) strategy.

Ning Zhang also released Canaan's ESG policy during his speech: "Canaan will give 2% Voucher to miners using green energes for their new orders", which demonstrated the company's determination of green mining and its sincererity of powering mining operations with renewable energy by cooperating with partners.
Flexible Design for Bitcoin Mining Market Adaptation The Avalon Miner A1566I is designed to seamlessly integrate with current supporting equipments. Its size and design ensure compatibility with current tank setups, avoiding inefficiencies caused by larger, non-specialized units. This flexibility maximizes the utility of existing infrastructure, providing users with a cost-effective upgrade choice. Future Outlook and Continuous Innovation of Avalon Miners Canaan's extensive global network, with multiple operational offices and over 20 service centers, is dedicated to offering comprehensive support to its customers. The launch of the Avalon Miner A1566I marks a significant milestone in Bitcoin mining technology, furthering the company's commitment to sustainable mining practices.

"We will continue to invest heavily in the development of next-generation mining technologies, improving energy efficiency, exploring new cooling techniques, and expanding our global business. Our goal is to solidify our market position through technological innovation and exceptional customer service," Ning concluded.

The successful launch of the Avalon Miner A1566I at Mining Disrupt 2024 underscores Canaan's leading position in the Bitcoin mining industry, setting a clear direction for future advancements. Canaan continues to drive industry innovation, providing optimal mining solutions for clients worldwide.

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, under the leadership of Mr. Nangeng Zhang, founder and CEO, 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.
Media Contact: [e-mail]

Follow us on social media and stay tuned for the lateset information of Canaan Inc..