Canaan announces improved revenue visibility in 2021

Beijing, china, feb. 10, 2021 (globe newswire) -- canaan inc. (nasdaq: can) ("canaan" or the "company"), a leading high-performance computing solutions provider, today announced that its revenue visibility has improved substantially in 2021 as a result of attaining purchase orders totaling more than 100,000 units of bitcoin mining machines from customers in north america. many of those purchase orders were placed with prepayment and will likely occupy the company's current manufacturing capacity entirely for the full year of 2021 and beyond. with those fully committed purchase orders, the company now enjoys a much higher degree of revenue visibility and more precise forecast. as such, the company is able to leverage such information and additional liquidity to conduct its component purchases, production scheduling, warehousing and logistics.
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