Canaan : Expands Its Reach in Thailand Through Exclusive Distributorship Agreement with Pins Tech (Thailand) Co., Ltd.

Canaan Inc. Expands Its Reach in Thailand Through Exclusive Distributorship Agreement with Pins Tech (Thailand) Co., Ltd.

publish date 2023-09-25

Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced an Exclusive Distributorship Agreement with Pins Tech (Thailand) Co., Ltd. ("Pins Tech"). This partnership is set to facilitate Canaan's expansion and development within the Thai market.

Under this exclusive distributorship agreement, Pins Tech will take on the role of sales, marketing and distribution of approved Avalon products in Thailand. This collaboration aims to further enhance the availability of Avalon products in the Thai market by leveraging Pins Tech's extensive distribution network, which includes retailers, wholesalers, and online platforms. As a result, customers in Thailand will benefit from improved access to Canaan's Avalon products, backed by convenient and reliable local support.

Mr. Nangeng Zhang, Chairman and Chief Executive Officer of Canaan, remarked, "Our collaboration with Pins Tech represents a pivotal step in our efforts to strengthen Canaan's presence and product offerings in Thailand. The partnership aligns perfectly with our vision of providing super-computing solutions to global markets. We believe that with Pins Tech's expertise and our high-quality products, we can exceed customer expectations and seize new opportunities in the dynamic Thai market."

Pins Tech (Thailand) Co., Ltd., founded in 2017, is a technology-focused company based in Thailand with initiatives in both hardware and software, including crypto-mining and blockchain. Over the years, Pins Tech has cultivated strong partnerships within the local technology sector, building an extensive network of business contacts.

Mr. Kritsanawat Jirayus, Chief Executive Officer of Pins Tech (Thailand) Co., Ltd. commented, "We are excited to partner with Canaan Inc. This collaboration allows us to offer Canaan's exceptional products to our network of customers and partners, further enhancing our capabilities in the hardware and cryptocurrency mining space."

To learn more about Canaan's Avalon products distributed by Pins Tech, please visit https://www.avalonthailand.com/.

About Canaan (NASDAQ: CAN)

Canaan is a leading provider of supercomputing solutions, distinguished for superior cost-efficiencies and performance. In addressing the limitations of today's computing hardware, Canaan strives to advance the world we live in by powering transformative technologies.

Canaan is renowned for having invented the world's first ASIC-powered bitcoin mining machine in 2013, radically catalyzing the growth of a computationally advanced bitcoin mining sector.

Developed through academic research, rigorous expertise in semiconductor design, and backed by a robust network of strategic partners, Canaan continues to expand its suite of advanced hardware offerings, exploring opportunities across some of the world's most exciting emerging technologies.For more information, visit:canaan.io.