Million

<a href="https://ultramining.com/news/en/canaan-s-revenue-drops-by-72/">Canaan</a> raised $50 million in its third financing tranche, yet the institutional investor's identity remains undisclosed. The anonymity raises questions about the source of substantial investments in the company. 
The company entered into a securities purchase agreement in November 2023, aiming to raise up to $125 million in three phases. The first two tranches closed in December and January, but details about the investor have not been revealed. 
Analysts speculate that the investor may have a strategic interest in Canaan's expansion into the North American market, but the lack of transparency concerns some market participants.

Canaan’s $50 Million Investor Remains Unnamed, Raising Questions

Ultramining_Eng

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