Technology

Canaan Inc. Awarded Order from New Customer CleanSpark for Avalon A1566I Miners

Published

2 hours ago

November 1, 2024

Contributing to CleanSpark’s Immersion Mining Operations

SINGAPORE, Nov. 1, 2024 /PRNewswire/ — Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), a leading high-performance computing solutions provider, today announced that Canaan U.S. Inc., a wholly owned subsidiary of the Company, has entered into a purchase agreement with a new customer, CleanSpark Inc., for its Avalon A1566I miners.

According to the purchase agreement, Canaan U.S. Inc. will provide CleanSpark with 3800 Avalon A1566I Immersion Cooling Miners. The miners, with average compute power of 249 Terahash per second (TH/s) without overclocking, are scheduled to be delivered in the fourth quarter of 2024.

“We are thrilled that CleanSpark has chosen Canaan’s high-performance mining solutions to advance their state-of-the-art immersion facilities. CleanSpark operates one of the industry’s highest-performing and most power-efficient mining fleets, led by a skilled team committed to maximizing efficiency and pursuing strategic site acquisitions,” said Mr. Nangeng Zhang, Chairman and CEO of Canaan. “We look forward to seeing our immersion-cooled miners integrated into CleanSpark’s impressive, vertically integrated system.”

“CleanSpark’s choice of Canaan miners highlights the strength of our products and our shared dedication to shaping the future of Bitcoin mining,” Mr. Zhang continued. “Our commitment to supporting the North American mining community is unwavering, and we are excited about the new opportunities this collaboration opens as we expand our regional presence.”

About Canaan Inc.

Established in 2013, Canaan Inc. (NASDAQ: CAN), is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. Canaan has extensive experience in chip design and streamlined production in the ASIC field. In 2013, Canaan’s founding team shipped to its customers the world’s first batch of mining machines incorporating ASIC technology in bitcoin‘s history under the brand name Avalon. In 2019, Canaan completed its initial public offering on the Nasdaq Global Market. To learn more about Canaan, please visit https://www.canaan.io/.

Safe Harbor Statement

This press release contains forward−looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward−looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, Canaan Inc.’s anticipated financing plans and its intended use of proceeds contain forward−looking statements. Canaan Inc. may also make written or oral forward−looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20−F and 6−K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Canaan Inc.’s beliefs and expectations, are forward−looking statements. Forward−looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward−looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; the expected growth of the bitcoin industry and the price of bitcoin; the Company’s expectations regarding demand for and market acceptance of its products, especially its bitcoin mining machines; the Company’s expectations regarding maintaining and strengthening its relationships with production partners and customers; the Company’s investment plans and strategies, fluctuations in the Company’s quarterly operating results; competition in its industry in China; and relevant government policies and regulations relating to the Company and cryptocurrency. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Canaan Inc. does not undertake any obligation to update any forward−looking statement, except as required under applicable law.

Investor Relations Contact

Canaan Inc.
Ms. Xi Zhang
Email: IR@canaan-creative.com

ICR, LLC.
Robin Yang
Tel: +1 (347) 396-3281
Email: canaan.ir@icrinc.com

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SOURCE Canaan Inc.

Technology

Cv International’s WindSuite: A Comprehensive Solution for Wind Turbine Maintenance and Safety

Published

55 mins ago

November 1, 2024

BEND, Ore., Nov. 1, 2024 /PRNewswire/ — Cv International’s WindSuite™, a cutting-edge service solution tailored to meet the safety and operational needs of technicians maintaining wind turbines across the renewable energy sector. The WindSuite provides an integrated approach to nitrogen servicing, combining a nitrogen generator, enhanced nitrogen booster, explosion-proof nitrogen fill station, and the innovative, CE Certified, WindKit, designed for ease of use in challenging environments.

Cvi’s WindSuite has been adopted by major industry players, including Siemens Energy, Vestas American Wind Technology, and Clearway Energy Wind Power Plants. “Servicing wind turbines is no easy task due to their extreme heights and the demand for high-pressure nitrogen,” says Sam Zumbrunnen of Cv International. “Our WindKit provides a portable and efficient nitrogen solution, enabling technicians to safely service turbines at elevation while ensuring equipment integrity and enhancing personal safety.”

Key Highlights:

Cvi WindSuite: The Complete Service Solution
WindSuite provides a suite of complementary nitrogen products designed to meet the varied needs of wind turbine servicing. This comprehensive package includes a nitrogen generator, booster, explosion-proof fill station, and the WindKit for portable, on-site nitrogen application.

Expanding Distribution Network
Cvi is partnering with a growing network of national distributors, marking a significant milestone in the company’s expansion. These distributors are positioned to deliver WindSuite solutions to a broader audience across the U.S.

Growing Customer Base
WindSuite has been successfully installed in several states, including Texas, Indiana, Arizona, Colorado, and Washington, contributing to enhanced operational efficiency and safety for a wide range of wind farm operators.

Cost and Safety Benefits
By reducing maintenance costs and improving safety protocols, the WindSuite offers wind farm operators a superior return on investment, contributing to the accessibility and affordability of wind energy.

Dan Warden, CEO of Cv International, expressed excitement about the company’s continued impact on the renewable energy sector. “Our WindSuite is designed to accelerate the transition to sustainable energy by streamlining wind turbine maintenance. We’re proud to announce that our Bend, Oregon facility is powered by 100% renewable wind energy, reinforcing our commitment to sustainability for our customers, employees, and communities.”

For further details or media inquiries, please contact:

George Darcy
Chief Marketing Officer
gdarcy@cvintl.com
541-480-1716

About Cv International:
For over 40 years, Cv International has provided innovative solutions to industries including Wind Energy, Aviation, Hydro Electric, and Oil & Gas. Headquartered in Bend, Oregon, Cv International is a Veteran-Owned Small Business (VOSB) delivering high-performance nitrogen systems, contaminated fuel detectors, cryogenic samplers, and maintenance solutions. Visit us at cvintl.com.

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SOURCE Cv International

Technology

WorkFusion Named a Category Leader in the Chartis RiskTech Quadrant® for KYC Solutions

Published

55 mins ago

November 1, 2024

Recognition as a leader in KYC, plus being named an AI category winner in the RiskTechAI50®, highlight the company’s market leadership in financial crime compliance technology

NEW YORK, Nov. 1, 2024 /PRNewswire/ — WorkFusion, a pioneer in AI agents for financial crime compliance (FCC), today announced that it has been named a Category Leader in the Chartis RiskTech Quadrant® for KYC Data and Solutions, 2024. It was also recognized recently as the winner for the Workflow and Automation category in Chartis’ RiskTechAI50® 2024.

Chartis is a research and advisory firm that supports financial services firms in the areas of risk, compliance and RegTech.

“WorkFusion’s bespoke AI assistance is a unique capability in the KYC marketplace and can be utilized in such areas as alert adjudication, automation and onboarding,” said Chartis Research Principal Philip Mackenzie. “Together with this cutting-edge leveraging of AI, the company’s strategy and consistent growth were key factors in WorkFusion’s designation as a category leader in the KYC Solutions quadrant.”

WorkFusion CEO Adam Famularo said, “We welcome the recognition by Chartis of our advanced KYC technology and expertise. Banks and financial institutions are contending with an increasingly complex and burgeoning landscape of bad actors attempting to exploit the global financial system. Every day, our AI Agents are helping financial crime compliance teams mitigate risk and transform KYC processes by reducing manual work and delivering a faster, easier onboarding experience for customers.”

WorkFusion’s AI-driven solutions prowess has previously been highlighted by other expert assessments, including being recognized as a Leader in Everest Group’s Banking-specific IDP Products PEAK Matrix® Assessment 2024. “WorkFusion’s ‘Digital Workers’ offering has stimulated the IDP market by giving users pre-trained ML models for specific use cases, especially within the banking compliance arena.”

Chartis assessed the WorkFusion platform, called Work.ai, as well as the WorkFusion AI Agents for financial crime compliance (FCC), by reviewing and analyzing in-depth product information, live demonstrations of WorkFusion AI Agents for FCC in action and interviews with WorkFusion product experts.

About WorkFusion

WorkFusion is a pioneer in AI agents for financial crime compliance (FCC). Its AI Agents are purpose-built workers that augment compliance teams in level 1 analyst functions and alleviate the tedious tasks associated with anti-money laundering (AML), adverse media monitoring, sanctions screening alert review, customer onboarding, Know Your Customer (KYC), transaction monitoring (TM) and customer service. WorkFusion’s AI solutions are technology controls that mitigate risk, solve talent challenges, increase workforce capacity, save money, enhance employee and customer experience, and improve compliance posture. To “put AI to work” for your organization, visit workfusion.com.

Media contact:

Jessica Cassady

jcassady@workfusion.com

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SOURCE WorkFusion

Technology

Further exits stealth with $4.1M to empower first-time homebuyers

Published

55 mins ago

November 1, 2024

Founded by a former fintech unicorn CEO & a proptech executive, Further aims to simplify the process for buyers with better financial planning tools

WASHINGTON, Nov. 1, 2024 /PRNewswire-PRWeb/ — New startup Further launches today and emerges from stealth with a $4.1 million pre-seed round. Founded in spring 2024, Further is on a mission to empower first-time homebuyers through the financial complexities of purchasing their first home. Investors include Link Ventures, Vesta Ventures, F4, FiDi Ventures, Flex Capital, Gaingels, Andrew Paradise, Jeff Fagnan, Ryan Moore and other angel investors.

The equation for homebuying has become much more complicated.

The company arrives at a critical time in the home affordability crisis. Today’s first-time homebuyers, particularly Millennials, face unprecedented challenges. As increasingly unattainable housing prices have pushed back the average age of homebuyer to their mid-30s, the equation for homebuying has also become much more complicated. While buyers are often left to manage this highly complicated process on their own using home-made spreadsheets, Further aims to replace the guesswork with easy-to-understand yet powerful, personalized tools that simplify their financial planning.

“Buying a home is one of the most significant milestones in a person’s life, but for many, the process is daunting and far too often, feels out of reach,” said Further cofounder & CEO, Kevin Bennett. “At Further, we’re here to empower buyers, giving them the tools, confidence and knowledge they actually need to achieve their homeownership dream.”

Further was founded by CEO Kevin Bennett and COO Chris Baker, leaders with extensive experience in fintech, real estate, and tech innovation. Bennett, the founding CEO of fintech unicorn Caribou, has a proven track record of leading high-growth companies. Baker, who has held leadership positions at high-growth startups, like EverQuote, and large consumer banks, like Bank of America and Santander, brings deep expertise in real estate and financial services. Further CTO, Nassir Samatar, brings a wealth of experience in building scalable tech platforms at Amazon, Coupang & Rover.

For more information, visit www.withfurther.com.

Media Contact

Hannah Golden, Further, 1 7033406867, press@withfurther.com, www.withfurther.com

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SOURCE Further