China-based computer hardware manufacturer, Canaan Creative, has extended its board of directors with four new members, according to an official statement.
In the meantime, five other directors, including Jianping Kong, Qifeng Sun, Hong Zhang, Xiaohu Yang and Mei Luo are leaving the firm due to the expiration of their contract agreement.
Both Kong and Sun have served as Canaan's directors since May 2018.
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The new members of the board are Wenjun Zhang, Hongchao Du, Zhitang Shu and Yaping Zhang. In total, the board will consist of six members, including four independent directors.
Previously, iHodl reported that the shares of the Chinese crypto mining giant (CAN) fell below $2 for the first time. Currently, CAN is trading at $2.74.
According to Aries Wang, Co-founder of the crypto exchange Bibox, the drop was related to the decline in demand for mining equipment during the months before the bitcoin halving, which took place back in May.
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