05:25 PM EST, 12/12/2024 (MT Newswires) -- Canaan (CAN) said its Singapore unit agreed to provide 2,000 Avalon A15 HydU 370T Bitcoin mining machines to AGM Group Holdings in an initial delivery.

AGM has an option to acquire 30,000 additional Bitcoin mining units that will potentially provide a combined power capacity of up to 300 megawatts, Canaan said Thursday in a statement.

Financial details weren't disclosed.

Canaan shares rose 4% in recent after-hours activity.

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