About Canaan
Canaan designs and sells ASIC mining machines for bitcoin under the Avalon brand. An ASIC is a chip built for one task, in this case the hashing calculation that bitcoin mining requires, which makes it more efficient than a general-purpose processor. The company also built chips for AI workloads in the past. It was founded in 2013 in China by Zhang Nangeng, moved its headquarters to Singapore in 2022 and has traded on the Nasdaq under the ticker CAN since a November 2019 initial public offering.
Canaan was founded in 2013 and is based in Singapore. It is listed under ASICs.
Compute Technologies
- ASICs
What Canaan works on
ASICs
An ASIC, or application-specific integrated circuit, is a chip designed to do one job or a narrow set of jobs. Its circuits are fixed when the chip is made. A CPU can run any program; an ASIC does what it was designed for and nothing else.
