Jia Nan Technology raised 30 million dollars through preferred stock issuance

PANews November 21st news, according to Finance Magnates, BTCMining Rig manufacturer Canaan Inc. (NASDAQ: CAN) recently signed a securities purchase protocol to sell up to 30,000 shares of A-1 series preferred stock to an institutional investor at a price of $1,000 per share. The protocol will raise $30 million to support the development of digital mining and equipment in North America. Previously, Canaan Inc. completed Series A financing in September 2024, selling up to 125,000 shares of Series A convertible preferred stock. Jia Nan Technology has also made progress in product development, with high demand for its Avalon A15-194T Mining Rig. The company has signed a follow-up purchase protocol with HIVE Digital Technologies and will deliver 5,000 Avalon A15 Mining Rigs in the first quarter of 2025. In addition to expanding its product supply, Jia Nan Technology is also strengthening its mining business in North America. Its subsidiary, Beet Digital LLC, has signed a joint mining protocol with Luna Squares Texas LLC (LS Texas). The protocol aims to expand Jia Nan Technology's mining capacity to 10 EH/s by mid-2025.