[Canaan Acquires Shares in Cipher Mining's Mining Projects for $39.75 Million] According to a report by Jinse Finance, Nasdaq-listed company Canaan Inc. announced that it has acquired a 49% equity stake in joint mining projects held by another Nasdaq-listed Bitcoin mining company, Cipher Mining Technologies. These projects include Alborz LLC, Bear LLC, and Chief Mountain LLC (collectively referred to as the 'ABC Projects'). The total transaction price is approximately $39.75 million. The ABC Projects are located in West Texas, USA, with a combined power capacity of 120MW, supporting approximately 4.4 EH/s of computing power. It is reported that Canaan completed the payment by issuing 806,439,900 Class A ordinary shares (equivalent to 53,762,660 American Depositary Shares, with a six-month lock-up period).