Mining Firm Canaan Accuses Chip Developer of Patent Infringement
Main page News, Mining

Chinese crypto mining hardware maker Canaan Creative has just filed a lawsuit against tech company HighSharp for infringing a patent, China Business News has reported citing court documents.

According to the publication, the defendants are Shenzhen HighSharp and Sichuan Yinbimei. These, according to the plaintiff, "made and sold Bitcoin mining chips and equipment" presumably based on a technology patented by Canaan.

The manufacturer has asked the court to order the defendants to stop production and pay a total of 90 million yuan (about $14 million) in damages. However, a HighSharp spokesman has said he knows nothing about it.

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HighSharp agreed in September 2021 to cooperate with Nasdaq-listed company AGM Group Holdings. Over the summer, the latter announced it would move from developing software for fintech companies to manufacturing ASIC miners.

In November, AGM Group announced an order from Code Chain New Continent Limited for the supply of 10,000 crypto mining devices for a total of $65 million.

Logistics company Sino-Global Shipping America had previously announced its plans to launch a new Bitcoin mining device in partnership with HighSharp, which has become the exclusive supplier of specialized chips for the joint venture.

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