Canaan Technology announced that it has secured $200 million in funding through an A-1 round of preferred stock financing.

According to TheMinerMag, Bitmain Technology has announced that it has raised $200 million through an A-1 round of preferred stock financing. The company announced on Monday that it has reached a securities purchase agreement with an institutional investor to receive an initial $100 million after the first tranche of funding settles on March 10. An additional $100 million is expected to be obtained in the near future, contingent upon certain conditions. This funding will support Bitmain Technology's research and development, production expansion, and digital mining infrastructure investment in North America.