Market Size

The blockchain market is opaque, at best. If we consider upgradable hashboards only, Canaan’s F-1 IPO filing is reporting a total unit count of 1.1 million in the timeframe 2017-2019H1. Canaan had an estimated 21,9% market share, according to

In short, we should have a total addressable market well north of 5.1 million units for our upgradeable platform alone.

We have heard rough estimates, based on production chip counts and hash rate analysis, as high as 5,2+ million S7s and S9s, some 2.1+ million L3++, and 2.3 million M3s, totaling 9.6 million units.


Benefits for Investors
No Hardware Investment
No Expensive Power Bills
No Infrastructure Cost
No Real-Estate Cost
Steady cash flow for R&D to expand our portfolio
Fends off competition by having reserve hashrate
to release to clients


Benefits for the Customer (Miners)
Reduces Fulfillment Risk
Protects the clients from 51%-attacks
Increases lifetime profitability of the hardware
Secures Prosperity & Level of Service
First in line customer status for our next ASICs
Limited amount of miners to avoid cannibalization
Active investment efforts to increase use cases and further efforts to bring crypto payments mainstream