Introduction

14 years passed since the publication of the Bitcoin white paper and Satoshi Nakamoto mined the first Bitcoin block, after 3 Bitcoin halving cycles, Bitcoin has continued to grow amidst countless doubts and gradually gained global consensus, becoming a well-deserved best practice in the field of decentralization.

CANAAN has been a witness to this development, starting with the release of the Avalon Made A1, the first ASIC-based mining product in January 2013. Avalon Made products has contributed to the robustness, security, and reliability of the Bitcoin network and mining.

In celebration of CANAAN’s 10th anniversary, CANAAN has launched the ‘Avalon Voucher Plan: Seeking the First-Generation Avalon Mining Products’（the ‘event’） to show appreciation to the miners and reward the worldwide Avalon Made users for their industry contributions. Through this event, CANAAN will offer customers the opportunity to exchange their old Avalon Made Products with hash rate Avalon Vouchers of up 1000 times of the original hash rate of the products. CANAAN will dispose the products received in a harmless manner in supporting the industry’s green and sustainable development.

Terms and Conditions

As the “originator model” of the entire Bitcoin mining machines and the “origin” of industry development, qualified Avalon Made A1 can receive up to 1000 times of the original hash rate of the products in Avalon Vouchers.

Direct customers: 72T/unit;

Indirect customers: 36T/unit.

As the second generation of Avalon Made products, Avalon Made A2 continued the brilliant history of Avalon Made A1 and shaped the typical hardware architecture for future miners. Qualified Avalon Made A2 and Avalon Made A3 can receive up to 100 times of the original hash rate of the products in Avalon Vouchers.

Direct customers: A2: 10T/unit, A3: 29.5T/unit;

Indirect customers: A2: 5T/unit, A3: 15T/unit.

The Avalon Made A4 and Avalon Made A6 were the transitional products between the first and second Bitcoin halving, making an indelible contribution to the smooth transition of the second Bitcoin halving. Qualified Avalon Made A4 and Avalon Made A6 can receive up to 2 times of the original hash rate of the products in Avalon Vouchers.

Direct customers: A4: 4T/unit, A6: 17.5T/unit;

Indirect customers: A4: 2T/unit, A6: 9T/unit.

Event Rules

1. Eligibility:

Customers who own Avalon Made A1-A6 can participate. Direct customers must provide proof of purchase from CANAAN, such as the order or payment records. Indirect customers are those who own Avalon Made A1-A6 but, provide no proof of purchase.

2. Acceptance Criteria:

The products must have a complete appearance and components (the hash board, MM board, fan, power supply, and the number of existing chips on the hash board should not be less than 80% of the original specification).

3. Exchange Rules:

a) Customers shall deliver the product to the address designated by CANAAN. After being accepted by CANAAN according to its inspection standard, CANAAN will issue Avalon Vouchers corresponding to the hash rate of the products. The actual amount of the Avalon Vouchers issued is calculated based on the price per T of the highest unit price of the current Avalon Made products that is sold by CANAAN multiplied by the hash rate of the corresponding miner. For specific calculation and distribution details, please contact CANAAN’s sales staff.

b)Avalon Vouchers will be reflected as “Avalon” in Avalon Voucher Management System.

4. Avalon Voucher Usage Rules:

a) The Avalon Vouchers can be used when purchasing any Avalon Made products at CANAAN’s online official mall （https://shop.canaan.io/）or offline with a maximum utilization value of not more than 30% of the order amount. The Avalon Vouchers cannot be used in conjunction with other discounts and cannot be exchanged for cash but are transferable. The validity period of Avalon Vouchers is 180 days from the date of issuance. Expired Avalon Vouchers will be deemed null and void. Customers shall ensure that their use of Avalon Vouchers complies with the laws and regulations of the country and/or region where they are located. For detailed rules of Avalon Vouchers (including but not limited to Avalon Voucher Rules), please visit CANAAN’s official website https://www.canaan.io/.

b) Customers are responsible for sending the products back to the place designated by CANAAN and all shipping and miscellaneous fees incurred therein. CANAAN reserves the right to conduct a quality inspection and evaluation of the received products based on its requirements for determining Avalon Voucher eligibility. Products that do not comply with the redemption rules will not be issued with Avalon Vouchers. In such circumstances, if a customer requests for return of the products, the customer must pay all shipping and miscellaneous fees incurred therein; otherwise, CANAAN will dispose the products without any liability to the customer.

5. Event Period:

May 1, 2023, to December 31, 2023.

6. Disclaimer:

The final interpretation right of the rules of this event is at the sole discretion of CANAAN. The customers participating in this event understand and agree to abide by all online and offline requirements and rules set by CANAAN for this event. CANAAN reserves the right to suspend or adjust this event for any reason without assuming responsibility. CANAAN also reserves the right to modify or adjust the event rules within the legal limits and the changes will be published from time to time on CANAAN’s official website (https://www.canaan.io/) or notified offline by CANAAN sales. For further details, please contact your CANAAN Sales or marketing@canaan-creative.com.

For more details about this event, please contact CANAAN Sales or marketing@canaan-creative.com.