Technology

Canaan Inc. Secures Follow-On Order from HIVE for 5,000 Avalon A15-194T Miners

Published

4 hours ago

November 20, 2024

Complementing the Earlier November Order of 6,500 Avalon A1566 Miners

SINGAPORE, Nov. 20, 2024 /PRNewswire/ — Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), a leading high-performance computing solutions provider, today announced that Canaan Creative Global Pte. Ltd. (“CCG”), a wholly owned Singapore subsidiary of the Company, has entered into a follow-on order purchase agreement with HIVE Digital Technologies Ltd (“HIVE”), for its Avalon A15-194T miners.

According to the purchase agreement, CCG will provide HIVE with 5,000 Avalon A15-194T miners, with an average computing power of 194 Terahash per second (TH/s), expected to be delivered in the first quarter of 2025.

“We sincerely thank HIVE for placing another order of our recently upgraded A15 series in such a short span, highlighting their strong commitment to strategically expanding their Bitcoin mining operations,” said Nangeng Zhang, Chairman and CEO of Canaan. “HIVE’s exceptional team, operating across nine time zones and five languages, exemplifies their dedication to advancing ESG-focused initiatives, including green energy integration, grid balancing, and heat recovery. By adopting a power-first approach and addressing the surging demand for AI computing capacity, HIVE is laying the foundation for a flexible energy infrastructure platform designed to evolve alongside breakthrough technologies for decades to come.”

The Avalon Miner A1566 is the second generation of 1xJ/T series products released by Canaan. Designed to provide a more dependable mining experience, the A1566 sets a new benchmark in performance with improved power efficiency and is the result of Canaan’s ongoing market research and its investment in product development.

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; 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.
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

Carleton Launches Six New Career-Focused Programs

Published

5 minutes ago

November 20, 2024

OTTAWA, ON, Nov. 20, 2024 /CNW/ – To meet the needs of a changing society, Carleton University is launching five new undergraduate programs in fall 2025 to prepare students for high-demand careers, alongside a flexible online program for multidisciplinary learning and professional advancement.

These programs demonstrate Carleton’s commitment to a focus on experiential learning and career readiness — an approach that will pay dividends for generations to come.

“I’m proud of the work that has been done to develop these new programs, which will attract a high calibre of students to our community,” says Carleton Interim President Jerry Tomberlin.

“It is especially gratifying to know that when they graduate, they will be able to step into vital careers and make immediate and important contributions to the economy, society and world.”

Highlights of the new programs include:

Condensed three-year Nursing Program: An innovative partnership with Ottawa’s Queensway Carleton Hospital accelerates Nursing education, preparing graduates to transform patient care in Ontario.Mechatronics: Prepares students to develop and maintain “smart” machines, vehicles and systems — electro-mechanical devices controlled by computers.Bachelor of Accounting: Builds on Carleton’s accounting excellence, equipping students for advanced careers and CPA designation readiness.Cybersecurity: Focuses on addressing challenges in securing information, networks and software in the digital age.Data Science: Combines mathematics, statistics, computer science and analytics to solve complex problems and responsibly translate data into actionable insights.Bachelor of Arts General Studies: A flexible, fully online (or hybrid) degree offering broad engagement with humanities, social sciences and cultural studies.

From broad ideas to specific challenges, these programs exemplify Carleton’s mission to drive real-world impact and shape a better future for all.

Looking for a Carleton expert?
Visit: https://experts.carleton.ca/

SOURCE Carleton University

Technology

Flex Completes Acquisition of Crown Technical Systems

Published

5 minutes ago

November 20, 2024

AUSTIN, Texas, Nov. 20, 2024 /PRNewswire/ — Flex (NASDAQ: FLEX) announced today that it has completed its previously announced $325 million all-cash acquisition of Crown Technical Systems, a leader in fully integrated power distribution and protection systems.

The acquisition further increases Flex exposure to fast-growing, margin accretive end-markets, including modular data center adoption and medium voltage power distribution, and extends the company’s power portfolio into the utility power market. Additionally, the deal strengthens Flex’s critical power portfolio and supports further growth in the U.S. data center market.

“We are pleased to welcome the Crown Technical Systems team officially to Flex,” said Revathi Advaithi, CEO, Flex. “This transaction strategically strengthens our unique EMS + Products + Services data center and power portfolio and expands our presence in high growth markets to help drive long-term value for our customers and shareholders.”

Crown Technical Systems is expected to generate revenue of approximately $120 million and high-teens EBITDA margin in fiscal 2025, which ends on March 31, 2025. For reporting purposes, Crown Technical Systems will be included in the Industrial Business unit inside Flex’s Reliability Solutions segment.

About Flex
Flex (Reg. No. 199002645H) is the manufacturing partner of choice that helps a diverse customer base design and build products that improve the world. Through the collective strength of a global workforce across 30 countries and responsible, sustainable operations, Flex delivers technology innovation, supply chain, and manufacturing solutions to diverse industries and end markets.

Contacts
Investors & Analysts
David A. Rubin
Vice President, Investor Relations
(408) 577-4632
David.Rubin@flex.com

Media & Press
Jessica Anderson
Director, Corporate Integrated Marketing and Communications
(408) 577-4789
Jessica.Anderson@flex.com

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. securities laws, including statements related to the anticipated benefits of the acquisition of Crown Technical Systems such as revenue and EBITDA generation, and general business outlook. These forward-looking statements involve risks and uncertainties that could cause the actual results to differ materially from those anticipated by these forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements. These risks include: the possibility that we may not fully realize the projected benefits of the acquisition in a timely manner or at all; business disruption following the acquisition; diversion of management time on acquisition- and integration-related issues; the combined operations may not be successfully integrated; the reaction of customers and other persons to the acquisition; and other events that could adversely impact the anticipated benefits of the acquisition, including industry or economic conditions outside of our control. In addition, actual results are subject to other risks and uncertainties that relate more broadly to our overall business, including those more fully described in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and in our subsequent filings. The forward-looking statements in this press release are based on current expectations and Flex assumes no obligation to update any forward-looking statements.

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SOURCE Flex

Technology

Precisely Achieves AWS Migration and Modernization Competency Status and Extends Global AWS Region Support

Published

5 minutes ago

November 20, 2024

Demonstrated technical proficiency, proven customer success, and growing demand for Precisely Data Integrity Suite strengthens collaboration with AWS

BURLINGTON, Mass., Nov. 20, 2024 /PRNewswire/ — Precisely, the global leader in data integrity, today announced it has achieved Amazon Web Services (AWS) Migration and Modernization Competency status for AWS Partners. This designation recognizes that Precisely has demonstrated technical proficiency and proven customer success automating and accelerating customer application migration and modernization journeys with its Precisely Data Integrity Suite. Precisely also announced continued support of the Data Integrity Suite in global AWS regions with the addition of the UK and Australia.

AWS Migration and Modernization

AWS launched the AWS Migration and Modernization Competency to allow customers to easily and confidently engage highly specialized AWS Partners that help AWS customers modernize their applications, either before or after they are moved to AWS. The AWS Migration and Modernization Competency takes on the heavy lifting of identifying and validating industry leaders with proven customer success and technical proficiency in migration and application modernization tooling. This is the second AWS Competency that Precisely has received, having previously achieved AWS Data and Analytics Competency in December 2023.

“Achieving AWS Migration and Modernization Competency is another significant milestone in our relationship with AWS. Congratulations to all the teams involved in working closely on our combined product solutions,” said Eric Yau, Chief Operating Officer at Precisely. “Additionally, the need for fast, powerful data integrity solutions continues to drive our expansion of support for AWS regions. Precisely is committed to accelerating and scaling the performance of Precisely Data Integrity Suite for our global customers.”

AWS is enabling scalable, flexible, and cost-effective solutions from startups to global enterprises. To support the seamless integration and deployment of these solutions, AWS established the AWS Competency Program to help customers identify AWS Partners with deep industry experience and expertise

Together, AWS and Precisely are helping businesses leverage AWS services for reporting, advanced analytics, artificial intelligence (AI), and machine learning (ML) using data from mainframe systems.

Precisely Data Integrity Suite AWS Region Expansion

Precisely Data Integrity Suite customers across North America, Europe, the UK, and Australia can now access in-country AWS data centers for enhanced performance and compliance with local data residency laws. Built from the ground up as interoperable SaaS services connected by a common foundation, the Data Integrity Suite helps organizations ensure their data is accurate, consistent, and contextual. Services include Data Integration, Data Governance, Data Quality, Data Observability, Geo Addressing, Spatial Analytics, and Data Enrichment.

Visit Precisely at AWS re:Invent in Las Vegas from December 2-6 at booth #875. Go to these pages to learn more about the partnership between AWS and Precisely and the Data Integrity Suite.

About Precisely

As a global leader in data integrity, Precisely ensures that your data is accurate, consistent, and contextual. Our portfolio, including the Precisely Data Integrity Suite, helps integrate your data, improve data quality, govern data usage, geocode and analyze location data, and enrich with complementary datasets for confident business decisions. Over 12,000 organizations in more than 100 countries, including 93 of the Fortune 100, trust Precisely software, data, and strategy services to power AI, automation, and analytics initiatives. Learn more at www.precisely.com.

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