Canaan chooses innovation over acquisition.
Today, Canaan is announcing that we are choosing to focus on innovation and will not pursue the deal to be acquired by Chinese electronics manufacturer Luyitong (LYT). We take all opportunities seriously that will improve the strength of our company. And now, it is time we focus on growing our business.
Today’s choice proves that Canaan is a global innovator. While Canaan spent time and resources pulling together this deal, those efforts are not wasted. They are contributions to our future. Internally Canaan strengthened our management structure, refreshed our public image, and have our product pipelines flowing to deliver solid reliable and efficient bitcoin technology solutions worldwide.
Over the last few months we have been saying we are here to “grow the blockchain.” We have used fresh images of nature like outside of our office in Beijing to help motivate our team and customers to move beyond technology innovation and into the spirit of healthy growth. That is what Canaan needs. That is what we choose.
Like most of you, we “keep the faith” in bitcoin. We are committed to increasing the decentralization of bitcoin, continuing our push for open source software on our products, and improving confidence in bitcoin and blockchain technologies.
Canaan is now three years old. We are a 100 person team that has outlasted several competitors. We cannot stop pushing innovation forward or be distracted with anything less than bringing the best high quality products with the best service to the world.
I know most of you are asking, “When is your next AvalonMiner coming out?” You will hear from us very soon…
FOR IMMEDIATE RELEASE
Beijing, September 29, 2016 — Canaan today announced that is 100% focused on growing and building innovations for customers. In June 2016 Canaan announced it had received an offer to be acquired by Chinese electronics manufacturer, Luyitong (LYT) as an opportunity to receive resources to accelerate growth. Canaan received news from the Shenzhen Stock Exchange that the LYT acquisition deal would take substantially more administrative work and time to move forward. Today, Canaan announced from www.canaan.io its decision to choose innovation over acquisition.
“Canaan takes all opportunities seriously that will improve the strength of our company,” said Canaan CEO, N.G. Zhang. “Today’s choice proves that Canaan is a global innovator. While Canaan spent time and resources pulling together this deal, those efforts are not wasted. They are contributions to our future. Internally Canaan strengthened its management structure, refreshed our public image, and have our product pipelines flowing to deliver solid reliable and efficient bitcoin technology solutions worldwide.”
Canaan’s CEO renewed the company’s committment to the world that it is focused on “growing the blockchain” and “keeping the faith” in bitcoin. Also, Mr Zhang wrote, “Canaan is now three years old. We are a 100 person team that has outlasted several competitors. We cannot stop pushing innovation forward or be distracted with anything less than bringing the best high quality products with the best service to the world. You will hear from us very soon…”
Founded in 2013, Canaan (Canaan Creative) is the worldwide leader in producing Blockchain servers and designing ASIC microprocessor solutions. Canaan products are sold globally. From the very first SHA-256 based upon FPGA technology to the Avalon Blockchain ASIC, Canaan continues to innovate by producing custom designed ASIC microprocessors. With the efforts of its highly skilled development team, Canaan strives to bring in new thoughts to the area of advanced technology ASIC processors and beyond.
For more information
New MM firmware released for AvalonMiner 6.0, Hardware model: MM-60, Version: 601607-2a78bc90. Update led status
Today we released our version 1.0 of Canaan Style. We made subtle changes to the style guide and adjusted our corporate font to use “open font” Comfortaa.
The new firmware for AvalonMiner 6.0 RPi is released and its supports Raspberry Pi 3 Model B now. Also the code is synchronized with the OpenWrt master branch.
Rip Firmware(Raspberry Pi 1,2,3)
- Support Raspberry Pi 3 Model B
- Sync with OpenWrt master branch (cac971da)
IRC: #avalon @freenode.net
New MM firmware released for AvalonMiner 6.0, Hardware model: MM-60, Version: 601607-2a78bc90. Fix hash rate bug
The Most Frequent Questions Answered
So many questions, so little time! We have been adding our most frequent questions to a new section on the Support page section, Frequently Asked Questions (FAQ). If you have a question, never hesitate to ask: email@example.com.
English Setup with Graphical Depictions for the Avalon6.
As a followup to our release of the original manual files, the Avalon6 English Setup Manual is here available in various formats. This is a graphical description of how to connect up data and power connections of one or more Avalon6 units. Check out the PDF.
Avalon6 Manual in Chinese, Setup for 1 or More, Translators Welcome
We made a new git repository for our sharing our Avalon6 Documents including our manual that has some cool graphics showing how to setup and connect one or more Avalon6 in parallel. This first document is in Chinese. We invite translators to work with us to make an English version or other language version. As we gather more Avalon6 documents, we will place them into our new repository and release the design assets under Creative Commons Zero 1.0 license (not including our logos and trademarks).
Have you started learning Chinese yet? Join us to translate the documents into public formats, English and other languages. Have fun!
Canaan Announces Kano Pool Competition Winners & Talks Open Source Contributions
For the last few months, Canaan has awarded an Avalon6 each month to a winner in a competition run by Kano.is mining pool to users of the “Kano Pool” who “mine” a winning block. Read the rules and the competition might seem complex to if you are new to Bitcoin mining, however it is a fun way to learn how to use the Avalon6 to mine Bitcoin.
Congratulations to the winners!
The list of winners is: @indeec444 for January, @kilowatt for Febraury, @sercinsabri for March, and @Abramov for April.
Canaan supports Open Source.
And, you can trust the Kano Pool because the software it runs is Open Source, meaning the software source code is publicly available for transparent review. The Kano Pool run’s the software CKPool, developed by Con Kolivas and Andrew Smith. And, Canaan’s Avalon6 units are controlled by Raspberry Pi’s running cgminer, another Open Source project developed by Kano and Con Kolivas (ckolivas).
How does it work simply?
Canaan’s Avalon6 is controlled by a Raspberry Pi running cgminer software. This software then may be set to synchronize its work with the Kano.is Pool running CKPool so that your unit(s) power joins a pool to mine for solutions to earn Bitcoin in the process most call, “Bitcoin Mining.” For the Kano.is competition, you must win a specific block with a specific difficulty.
Canaan’s Avalon6 and our previous products are optimized to use CKPool and cgminer. We contribute to cgminer regularly and as Kano.is states, “Avalon is great with cgminer! The master cgminer git is kept up-to-date by [Canaan] submitting their changes, and they incorporate all the master cgminer changes!” In the world of mining, transparency is crucial. If you have a project or competition idea to support Open Source using Canaan products, please send firstname.lastname@example.org.