The Singapore-based bitcoin mining rig producer Canaan (Nasdaq: CAN) closed a $72 million direct offering Friday with institutional investors from Brevan Howard, Galaxy Digital, and Weiss Asset Management. The mining rig company sold 63.66 million ADSs, each representing 15 Class A ordinary shares, at a price of $1.131 per ADS. The offering was announced on Nov. 4, 2025. Canaan said it intends to use the proceeds to fund the acquisition and development of data center sites and facilities in North America ...