Cipher Digital Inc. Beneficial Ownership Filing

Cipher Digital Inc. and its subsidiary, Cipher Mining Technologies Inc., have filed a Schedule 13G, reporting beneficial ownership of 806,439,900 Class A ordinary shares of Canaan Inc. This represents approximately 7.7% of the outstanding Class A ordinary shares. The shares are held through two entities: Cipher Black Pearl LLC and Cipher Mining Technologies Inc. The filing indicates that these securities were not acquired or held for the purpose of influencing the control of Canaan Inc.