TechFlame reports that Bitcoin mining machine manufacturer Canaan has secured a $72 million equity investment from Brevan Howard, Galaxy Digital, and Weiss Asset Management. The move aims to strengthen partnerships with institutional investors. In a Tuesday announcement, Canaan stated that the investment was completed through the purchase of 63.7 million American Depositary Shares (ADS), priced at $1.131 per share, with each ADS representing 15 Class A ordinary shares. The company emphasized that the transaction did not involve warrants, options, or other derivatives, making it a straightforward equity deal that highlights investors' confidence in the company's fundamentals. Canaan noted that the funding will bolster its balance sheet and reduce reliance on future "at-the-market" offerings or other dilutive financing methods. On the day of the announcement, Canaan's stock fell by 15%, aligning with the broader downturn in Bitcoin-related stocks.