Stock Track | Canaan Inc. Soars 5.07% on Major Bitcoin Mining Deal with AGM Group

Stock Track

Dec 14, 2024

Canaan Inc. (CAN), a leading technology company specializing in ASIC high-performance computing chips and bitcoin mining equipment, saw its stock soar over 5% in pre-market trading on Friday.

The rally was driven by news that AGM Group Holdings Inc. (AGMH), an integrated technology company, has entered into a purchase agreement to acquire 2,000 units of Bitcoin mining machines from Canaan's subsidiary, Canaan Creative Global Pte Ltd. This significant order highlights the growing demand for Canaan's high-performance mining equipment.

Furthermore, the deal also includes an option for AGM Group to acquire up to approximately 30,000 additional Bitcoin mining units from Canaan, with a combined power capacity not exceeding 300 megawatts, valid until December 31, 2025. This substantial order could potentially boost Canaan's revenue and profitability in the coming years, fueling investor optimism and driving the stock's remarkable intraday surge.

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Soars 5.07% on Major Bitcoin Mining Deal with AGM Group\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2024-12-14 00:44</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Canaan Inc. (CAN), a leading technology company specializing in ASIC high-performance computing chips and bitcoin mining equipment, saw its stock soar over 5% in pre-market trading on Friday.</p>\n\n<p>The rally was driven by news that AGM Group Holdings Inc. (AGMH), an integrated technology company, has entered into a purchase agreement to acquire 2,000 units of Bitcoin mining machines from Canaan's subsidiary, Canaan Creative Global Pte Ltd. This significant order highlights the growing demand for Canaan's high-performance mining equipment.</p>\n\n<p>Furthermore, the deal also includes an option for AGM Group to acquire up to approximately 30,000 additional Bitcoin mining units from Canaan, with a combined power capacity not exceeding 300 megawatts, valid until December 31, 2025. This substantial order could potentially boost Canaan's revenue and profitability in the coming years, fueling investor optimism and driving the stock's remarkable intraday surge.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CAN","symbol_name":"嘉楠科技","start_time":0,"source_url":"","article_id":"1140622432","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1140622432","pubTimestamp":1734108260,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Canaan Inc. , a leading technology company specializing in ASIC high-performance computing chips and bitcoin mining equipment, saw its stock soar over 5% in pre-market trading on Friday.The rally was driven by news that AGM Group Holdings Inc. , an integrated technology company, has entered into a purchase agreement to acquire 2,000 units of Bitcoin mining machines from Canaan's subsidiary, Canaan Creative Global Pte Ltd. 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