Canaan Inc is a technology company primarily focused on the design and development of high-performance computing solutions, particularly in the field of blockchain technology
The company is best known for its innovative ASIC (Application-Specific Integrated Circuit) hardware, which is utilized for cryptocurrency mining. By leveraging cutting-edge technology and engineering expertise, Canaan aims to enhance operational efficiencies in blockchain networks, catering to the growing demand for computational power within the digital currency ecosystem. In addition to mining hardware, Canaan is also exploring diverse applications of its technology in various sectors, positioning itself as a key player in the evolving landscape of digital assets and blockchain innovation.
Did President-elect Trump just ignite a Bitcoin firestorm? Many crypto-related stocks posted big gains on Friday, just ahead of next week's inauguration.
Recently released documents show that the Federal Deposit Insurance Corporation (FDIC) advised financial institutions to temporarily halt direct involvement in cryptocurrency activities but didn’t mandate the cessation of banking services to crypto firms, contrary to claims of nationwide “debanking” within the industry.
Silicon Valley contributed a staggering $394.1 million to the 2024 U.S. presidential election, based on Federal Election Commission (FEC) data analysis. Much of this came from Elon Musk, who reportedly donated $243 million to Trump’s campaign.
A hacker tied to one of the biggest crypto thefts in history has been given a five-year sentence in a United States jail for money laundering. Ilya Lichtenstein admitted his guilt last year in a case involving the 2016 hacking of the Bitfinex exchange which resulted in the theft of almost 120,000 bitcoins.
Bitcoin (CRYPTO: BTC) has soared to all-time highs following Donald Trump's election win, also lifting Bitcoin mining stocks on a wave of positive sentiment.
In a recent expansion that is intended to boost operational efficiency, CleanSpark Inc. has made a major purchase. The prominent bitcoin mining and energy technology company bought a new batch of 3,800 Avalon A1566I bitcoin miners from the Chinese tech manufacturer Canaan Inc. (NASDAQCAN) . Beyond just benefiting CleanSpark by helping it grow its mining capacity, the collaboration marks a significant step in the firm’s mission to develop a more energy-efficient and sustainable mining fleet.
Loews Corp reported strong Q3 earnings with increased net income and revenues. CNA Financial Corp also saw growth, while Boardwalk Pipelines and Loews Hotels improved results.
