Bitcoin Diary has learned that Canaan Technology has completed the third batch of preferred stock issuance, raising an additional $50 million to fund its self-operated mining expansion and mining machine manufacturing business in North America. On Monday, Canaan Technology announced the issuance of 50,000 Class A preferred shares at an issue price of $1,000 per share. These shares can be converted into Class A common shares after six months and then converted into American depositary shares on Nasdaq