Canaan Makes Strategic Entry Into Middle East With Launch Of Its A14 Series Bitcoin Miners

Canaan, a global pioneer and leader in blockchain technology and cryptocurrency mining solutions, announced the launch of two of its most advanced Bitcoin Miners, the air cooling Bitcoin Miner, A1466, and the immersion cooling Bitcoin Miner, A1466I, at the Blockchain Life 2023 event in Dubai. This initiative marks a key milestone  in Canaan’s global expansion strategy, particularly targeting the Middle East’s robust blockchain and renewable energy markets.

Key features of the A1466I Bitcoin Miner:

• Advanced Thermal Efficiency — Canaan’s A1466I employs cutting-edge immersion cooling technology renowned for optimizing heat dispersion in the energy-intensive field of crypto-mining.
• Revolutionary Performance and Efficiency — In a sector where reliable performance is crucial, the A1466I offers overclocking capabilities that boost its hash rate from 170TH/s to 250TH/s. This makes the A14 series a noteworthy option for miners in the Middle East & North Africa, the sixth-largest crypto economy globally, and a region that held an estimated $389.8 billion in on-chain value last year.
• Robust Durability — Built to withstand the unique environmental conditions of the Middle East—such as high humidity and salinity—the A1466I’s immersion cooling Bitcoin miners come with a protective barrier,  significantly extending the machine’s lifespan. This significantly reduces the need for maintenance, thereby contributing to a more cost-effective ownership experience.
• Desert-Ready Design — The A1466I incorporates a design optimized for arid climates. By submerging the unit in specialized cooling fluids, it offers an added layer of protection against external particles common in desert areas.
• Customization Flexibility — To meet diverse client needs, Canaan provides customization options for the A1466I, from cooling systems to hardware configurations.

Introduced alongside the A1466I, the A1466 Bitcoin Miner represents the newest generation of Canaan’s air cooling mining systems. Designed to maximize power efficiency and performance, the A1466 operates at an energy-efficient 21.5 J/T while delivering a hash rate ranging from 150 TH/s to 180 TH/s. This innovative blend of features positions the A1466 as one of the most cost-effective solutions in the Bitcoin mining industry.

Strategic Alignment with Middle East’s Sustainability and Blockchain Ecosystem

“The Middle East is not just a crucial market but also a burgeoning blockchain hub that complements Canaan’s expansive goals,” says Davis Hui, Vice President of Canaan. “The region’s progressive regulatory landscape and commitment to renewable energy fit perfectly with our international strategies, from environmental sustainability to technological innovation.”

As the host of the upcoming COP28, the Middle East is leading the way in green transition efforts, making it an essential part of Canaan’s environmental strategy. Moreover, the region’s emerging status as a blockchain hub adds another layer of strategic alignment. As the creator of the world’s first ASIC bitcoin miner and the first crypto company listed on Nasdaq, Canaan has also made significant contributions to the global climate action cause by developing green mining solutions and collaborating with its business partners in Kazakhstan and the US to make their bitcoin mining operations environmentally friendly.

“Bitcoin mining has its critics, especially regarding its environmental impact,” adds Davis Hui. “However, this critique propels innovation in renewable energy solutions, something we’re keen to be a part of. In parallel, the Middle East’s evolving blockchain ecosystem offers a fertile ground for technological advancements. We are committed to leveraging both these aspects to establish a cleaner and more innovative crypto-mining landscape in the region. Notably, our flagship A14 series, specifically the A1466I, has been engineered to meet the unique environmental conditions of the Middle East—from high humidity and salinity to extreme heat.”

About Canaan (NASDAQ: CAN)
Canaan is a leading provider of supercomputing solutions, distinguished for superior cost-efficiencies and performance. In addressing the limitations of today’s computing hardware, Canaan strives to advance the world we live in by powering transformative technologies.
Canaan is renowned for having invented the world’s first ASIC-powered Bitcoin Miner 2013, radically catalyzing the growth of a computationally advanced bitcoin mining sector. Today, Canaan continues to be the second largest designer and manufacturer of bitcoin miners globally.
Developed through academic research, rigorous expertise in semiconductor design, and backed by a robust network of strategic partners, Canaan continues to expand its suite of advanced hardware offerings, exploring opportunities across some of the world’s most exciting emerging technologies.