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嘉楠耘智 Aims to Become the Global Crypto Mining Leader – Hanyeqiushu May Reap Investment Rewards

嘉楠耘智: The Rise of a Global Blockchain Hardware Powerhouse

In recent years, the blockchain and cryptocurrency industry has seen rapid technological evolution and increasing institutional interest. At the forefront of this movement stands 嘉楠耘智 (Canaan Creative), one of the world’s leading manufacturers of Bitcoin mining hardware. With growing speculation that the company is preparing for a U.S. IPO in mid-November, Canaan is poised to make history as a potential "global crypto mining leader stock"—a milestone that could trigger significant returns for its early investors.

Backed by strong technical innovation and a proven track record in ASIC chip development, Canaan Creative has evolved from a niche player into a key force shaping the future of decentralized computing. As anticipation builds around its public listing, stakeholders—including Chinese A-share company Hanyeqiushu (Hanye Group, 600226.SH)—could be entering a high-reward phase from their strategic early-stage investments.

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Canaan Creative: Pioneer in Blockchain and Chip Technology

Founded in April 2013, Canaan Creative began as a blockchain-focused tech startup and quickly emerged as a pioneer in cryptocurrency mining solutions. Originally incubated in Beijing’s Zhongguancun tech hub, the company was later relocated to Hangzhou through support from the Tsinghua Yangtze River Delta Research Institute. This academic-industrial collaboration helped accelerate its R&D capabilities, particularly in integrated circuit design.

Canaan is best known for its Avalon series of mining machines, which have become synonymous with efficiency and reliability in the Bitcoin mining community. The company made global headlines by becoming the first organization to successfully develop and mass-produce 7nm blockchain ASIC chips, a breakthrough that significantly improved computational power while reducing energy consumption.

These technological advancements solidified Canaan’s position as the second-largest Bitcoin mining hardware manufacturer worldwide, trailing only Bitmain in market share. According to public data, in 2017 alone, Canaan shipped approximately 294,500 mining units, capturing 20.9% of global shipment volume and 19.5% of computing power market share.

Rapid Growth and Financial Performance

Canaan’s financial trajectory reflects the explosive growth of the cryptocurrency sector during the 2015–2018 bull run. Its revenue surged from RMB 47.7 million in 2015 to RMB 1.308 billion in 2017, representing a staggering compound annual growth rate (CAGR) of 423.7%. Net profits followed suit, climbing from just RMB 1.5 million to RMB 361 million over the same period.

By 2018, preliminary estimates suggested annual revenues exceeded RMB 4 billion (~USD 560 million), driven by sustained demand for high-performance miners amid rising Bitcoin prices. In early 2019, Hurun Research listed Canaan on its Greater China Unicorn Index with an estimated valuation of RMB 15 billion (~USD 2.1 billion). Later reports indicated the company secured hundreds of millions in private funding, pushing its valuation into the multi-billion-dollar range.

While cryptocurrency markets are inherently volatile—posing risks to hardware manufacturers dependent on mining profitability—Canaan has taken proactive steps to diversify. The company is actively expanding beyond crypto mining into broader AI and high-performance computing chips, with 5nm chip development already underway. This pivot enhances long-term sustainability and reduces reliance on crypto price cycles.

Hanyeqiushu’s Strategic Investment Play

One of the most notable beneficiaries of Canaan’s rise could be Hanyeqiushu, a publicly traded company on China’s A-share market. In January 2017, Hanyeqiushu announced a strategic move to invest RMB 200 million into Shanghai Yongtang Equity Investment Center (Limited Partnership).

Shanghai Yongtang, in turn, committed the full amount to Baohu Fund (Shanghai Baohu Investment Management Center), acquiring approximately 6.83% of its shares. Through this layered investment structure, Hanyeqiushu gained indirect exposure to Canaan Creative.

According to official disclosures, Hanyeqiushu’s ultimate equity stake in Canaan is less than 1%. However, even a small ownership percentage could yield substantial returns if Canaan successfully lists in the U.S. at an expected valuation between USD 2–3 billion, with projections suggesting an IPO of around 126 million new shares.

Given these figures, Hanyeqiushu stands to benefit from capital appreciation, potentially marking this early bet as one of its more successful venture allocations.

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Diversified Portfolio Beyond Blockchain

While Canaan remains a highlight, Hanyeqiushu’s investment strategy extends well beyond cryptocurrency infrastructure. Through Shanghai Yongtang and Baohu Fund, the company has stakes in several high-growth sectors:

This diversified approach allows Hanyeqiushu to participate in multiple high-potential industries—from green energy to digital content—while balancing risk across different economic cycles.

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Frequently Asked Questions (FAQ)

Q: What is Canaan Creative known for?
A: Canaan Creative is best known for developing the Avalon series of Bitcoin mining machines and being the first company to mass-produce 7nm ASIC chips for blockchain applications.

Q: Is Canaan Creative going public?
A: As of late 2019, there were strong indications that Canaan planned to list on a U.S. exchange in mid-November. It later became the first cryptocurrency mining hardware company to go public in the U.S., listing on NASDAQ in November 2019.

Q: How did Hanyeqiushu invest in Canaan?
A: Hanyeqiushu invested RMB 200 million into Shanghai Yongtang, which then allocated funds to Baohu Fund—a vehicle that holds shares in Canaan Creative.

Q: What is Hanyeqiushu's stake in Canaan?
A: Hanyeqiushu’s indirect ownership in Canaan is less than 1%, but it could still generate meaningful returns due to Canaan’s large market valuation.

Q: Why is 7nm chip technology important?
A: 7nm chips offer higher processing efficiency and lower power consumption compared to older nodes, giving miners better profitability and longer hardware lifespans.

Q: Does Canaan only make crypto miners?
A: While best known for Bitcoin miners, Canaan is expanding into AI chips and other high-performance computing applications using its advanced semiconductor expertise.

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Final Outlook

Canaan Creative’s journey from a small R&D startup to a potential global leader in blockchain infrastructure exemplifies the transformative power of technological innovation. Its anticipated U.S. IPO not only marks a milestone for the company but also validates the broader legitimacy of crypto-related businesses in traditional capital markets.

For investors like Hanyeqiushu, this moment represents a potential inflection point—a chance to realize value from forward-thinking venture capital decisions made years earlier. As blockchain continues to evolve beyond speculation into real-world utility, companies at the intersection of hardware and decentralization will remain critical enablers of progress.

The story of Canaan isn’t just about mining Bitcoin—it’s about building the foundational tools that power trustless systems, one chip at a time.