On December 19, 2021, Zhejiang Canaan Technology Limited closed the transaction. The company has issued 35,573,122 shares at the price of CNY 7.59 per share for gross proceeds of CNY 269,999,995.98 and net proceeds of CNY 261,862,260.14. The shares will be listed on December 22, 2021 and have restriction of six months.

The transaction included participation from 12 investors including Caitong Fund Management Co., Ltd acquiring 9,960,474 shares for CNY 75,599,997.66, Xu Guoxin acquiring 7,773,386 shares for CNY 58,999,999.74, and Xia Tongshan acquiring 3,030,303 shares for CNY 22,999,999.77.