Canaan inc. provides updates on its bitcoin mining operations

Singapore , aug. 18, 2023 /prnewswire/ -- canaan inc. (nasdaq: can) ("canaan" or the "company" or "we"), a leading high-performance computing solutions provider, today announced that the challenges set forth below may adversely impact the company's bitcoin generation and revenue from its mining activities, primarily due to reduced uptime, beginning in the third quarter of 2023. kazakhstan regulatory changes to ensure legal compliance, the company decided to temporarily shut down approximately 2.0 exahash/s of its mining computing power in kazakhstan since july 2023, subsequently to the rules for licensing of digital mining activities (the "rules") became effective in kazakhstan.
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