Simpson Thacher & Bartlett

ICBC TOWER, 35^TH FLOOR

3 GARDEN ROAD

HONG KONG

TELEPHONE: +852-2514-7600

FACSIMILE: +852-2869-7694

November 13, 2019

VIA EDGAR

Division of Corporation Finance

U.S. Securities and Exchange Commission

100 F Street, N.E.

Mail Stop 4561

Washington, D.C. 20549

Ladies and Gentlemen:

On behalf of our client, Canaan Inc., an exempted company incorporated under the laws of the Cayman Islands with limited liability (the “Company”), we are filing herewith Amendment No. 2 (“Amendment No. 2”) to the Company’s above-reference Registration Statement on Form F-1 (the “Registration Statement”) via EDGAR with the Securities and Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the “Securities Act”).

Simpson Thacher & Bartlett

November 13, 2019

We enclose herewith five (5) courtesy copies of Amendment No. 2, which has been marked to show changes to the Company’s Amendment No. 1 to the Registration Statement filed with the Commission on November 5, 2019 (the “November 5 Filing”).

The Company has responded to the Staff’s comments contained in the comment letter dated November 8, 2019 from the Staff (the “November 8 Comment Letter”) by revising the November 5 Filing or providing explanations in response to the comments.

Set forth below are the Company’s responses to the Staff’s comments in the November 8 Comment Letter. The Staff’s comments are retyped in bold italics below for your ease of reference. We have included page numbers to refer to the location in Amendment No. 2 where the disclosure addressing a particular comment appears.

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Amendment No. 1 to Registration Statement on Form F-1 filed November 5, 2019

Risk Factors, page 16

The Company respectfully advises the Staff that, as of the date hereof, Mr. Nangeng Zhang, who will beneficially hold the Class B ordinary shares upon effectiveness of the Registration Statement, is not a U.S. resident. Pursuant to Securities Act Rule 405, Exchange Act Rule 3b-4 and Securities Act Rules Compliance and Disclosure Interpretation 203.17, when an issuer determines whether more than 50 percent of its outstanding voting securities are directly or indirectly owned of record by residents in the United States, the issuer may choose one of the two methods. The issuer may look to whether more than 50 percent of the voting power of those classes on a combined basis is directly or indirectly owned of record by residents of the United States. Alternatively, an issuer may make the determination based on the number of voting securities. The Company believes that it qualifies as a foreign private issuer under either method as of the date hereof. When making the determination in the future, the Company will adopt a consistent method as requested by the interpretation.

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Simpson Thacher & Bartlett

November 13, 2019

ADS holders may not be entitled to a jury trial …, page 49

In response to the Staff’s comment, the Company has revised the disclosure on page 50 of Amendment No. 2. The Company respectfully advises the Staff that as disclosed on page 49 of Amendment No. 2, it believes the jury trial waiver provision would most likely not apply to an ADS holder who withdraws the underlying shares with respect to claims arising after the withdrawal.

Your rights to pursue claims against the depositary …, page 50

In response to the Staff’s comment, the Company has revised the disclosure on pages 50 and 165 of Amendment No. 2.

Conversion, page 148

In response to the Staff’s comment, the Company has revised the disclosure on pages 147 and 148 of Amendment No. 2.

Exhibits

Maples and Calder (Hong Kong) LLP, the Company’s Cayman Island counsel, has revised its opinion to reflect the Staff’s comments, and the revised opinion is filed with Amendment No. 2.

Commerce & Finance Law Offices, the Company’s PRC counsel, has revised its opinion to reflect the Staff’s comments, and the revised opinion is filed with Amendment No. 2.

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Simpson Thacher & Bartlett

November 13, 2019

The Company respectfully directs the Staff to paragraph 3.4 of Exhibit 5.1 in which Maples and Calder (Hong Kong) LLP, the Company’s Cayman Islands counsel, states that “such statements constitute [its] opinion” at the end of that paragraph in reference to statements of Cayman Islands law under the heading “Taxation”.

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Simpson Thacher & Bartlett

November 13, 2019

The Company respectfully advises the Staff that it has deleted the disclosure on the 2019 Draft NDRC Catalog on page 19 of Amendment No. 2 because cryptocurrency mining was not classified as an eliminated industry in the final NDRC Catalog.

The Company will commence its road show activities on November 13, 2019 and expects to price the initial public offering on or about November 19, 2019. We would greatly appreciate the Staff’s willingness to work with the Company to achieve this offering timetable.

On behalf of the Company, we wish to thank you and the other members of the Staff for your prompt review of the November 5 Filing.

If you have any question regarding the Draft Registration Statement, please do not hesitate to contact me at +852-2514-7650 (work), +852-9198-4235 (mobile) or clin@stblaw.com (email) or Howie Farn at +852-2514-7668 (work), +852-6710-2672 (mobile) or hfarn@stblaw.com (email).

Enclosures

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