Northern Data and Canaan sign cooperation agreement for Blockchain and AI

Northern Data AG , one of the largest blockchain solutions and datacenter providers in the world and Canaan Inc, (Nasdaq: CAN, US ISIN: US1347481020) one of the leading blockchain technology companies in the world are happy to announce the beginning of close cooperation in the areas of Artificial Intelligence (AI) development, Blockchain Technology and Datacenter operations.

Combining Canaan's excellence in the fields of AI Chip development and ASIC hardware with Northern Data's proven track record at delivering A class Datacenter and Blockchain infrastructure at scale will provide both companies with a solid bedrock to build and expand in this tremendously exciting technology space and catapult both companies together to new heights.

With Northern Data's North American and European teams and facilities working in concert with Canaan's advanced R&D teams in Asia, this first step towards a strategic partnership should unlock many additional synergistic projects throughout the blockchain and technology sectors. We are able to unlock massive potential in some of the fastest-growing industries with this strategic cooperation, says Aroosh Thillainathan, CEO of Northern Data AG. Canaan is a technical leader in AI and Blockchain Technology and showed an impressive growth over the past few years. We are very excited about our partnership and see a huge upside for both companies.

Northern Data has rich experience in building high-performance computing infrastructure, says NG Zhang CEO of Canaan, and our research and development (R&D) team is collaborating with Northern Data. Both sides have achieved positive results. In addition, Northern Data will provide computational resources support for our overseas R&D in the US. Canaan looks forward to further cooperation in product development, AI, and high-performance computing with Northern Data in the future.

For Northern Data AG, the strategic cooperation with Canaan, Inc. is one of the first of a series of many partnerships with the world's leading players in AI and Blockchain-Technology that are about to be signed over the upcoming months.