November 8, 2019

Nangeng Zhang
Chairman and Chief Executive Officer
Canaan Inc.
30/F, Dicara Silver Tower
29 Jiefang East Road
Jianggan District, Hangzhou 310016
People's Republic of China

       Re: Canaan Inc.
           Registration Statement on Form F-1
           Filed October 28, 2019
           Amendment No. 1 to Registration Statement on Form F-1
           Filed November 5, 2019
           File No. 333-234356

Dear Mr. Zhang:

       We have reviewed your registration statement and have the following
comments. In
some of our comments, we may ask you to provide us with information so we may
understand your disclosure.

       Please respond to this letter by amending your registration statement
and providing the
requested information. If you do not believe our comments apply to your facts
circumstances or do not believe an amendment is appropriate, please tell us why
in your

       After reviewing any amendment to your registration statement and the
information you
provide in response to these comments, we may have additional comments.

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

Risk Factors, page 16

1.     Please explain how, with your multi-class structure with different
voting rights, you will
       determine whether more than 50 percent of your outstanding voting
securities are owned
       of record by U.S. residents for purposes of satisfying the foreign
private issuer definition.
       Please refer to Securities Act Rule 405, Exchange Act Rule 3b-4 and
Securities Act Rules
       Compliance and Disclosure Interpretation 203.17.
 Nangeng Zhang
FirstName LastNameNangeng Zhang
Canaan Inc.
Comapany 8, 2019
November NameCanaan Inc.
Page 2
November 8, 2019 Page 2
FirstName LastName
ADS holders may not be entitled to a jury trial . . ., page 49

2.       We note your response to prior comment 1. This risk factor indicates
that courts in New
         York have non-exclusive jurisdiction, but the second risk factor on
page 50 indicates that
         such courts have exclusive jurisdiction. Please reconcile. Please also
revise to clarify
         why you believe the jury trial waiver provision would apply to claims
arising after, but not
         before, an ADS holder withdrew the underlying shares.
Your rights to pursue claims against the depositary . . ., page 50

3.       Please expand your revisions in response to prior comment 2 to clarify
the material risks
         related to this provision, such as increased costs, the possibility of
less favorable outcomes
         and whether it may discourage or limit suits against you or the
depositary. Please also
         revise to disclose whether this provision would apply if an ADS holder
withdrew the
         underlying shares. Further, please revise here and on page 166 to
state clearly that
         investors cannot waive your and depositary's compliance with the
federal securities laws,
         not merely that investors will not be deemed to have waived such
Conversion, page 148

4.       Please revise clarify who is considered an "affiliate." Also revise to
clarify the types of
         transfers that would cause the shares to convert. For example, do the
shares convert upon
         death of the holder?

5.       Please reconcile the assumption in paragraph 2.3 of Exhibit 5.1 with
the documents listed
         in section 1. Also tell us how the assumption in that paragraph is
6.       Please refer to paragraph 3.4 of Exhibit 5.1 and page 3 of Exhibit
99.2. If the statements
         in your disclosure under the heading "Taxation" are counsel's opinion,
then their opinion
         must state so, not merely that the disclosures are "accurate." Please
file revised opinions.
        We remind you that the company and its management are responsible for
the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action
or absence of
action by the staff.

       Refer to Rules 460 and 461 regarding requests for acceleration. Please
allow adequate
time for us to review any amendment prior to the requested effective date of
the registration

       You may contact Kristin Lochhead at (202) 551-3664 or Brian Cascio,
Branch Chief, at (202) 551-3676 if you have questions regarding comments on the
statements and related matters. Please contact Tom Jones at (202) 551-3602 or
Geoff Kruczek,
Senior Attorney, at (202) 551-3641 with any other questions.
 Nangeng Zhang
Canaan Inc.
November 8, 2019
Page 3

FirstName LastNameNangeng Zhang
                                    Division of Corporation Finance
Comapany NameCanaan Inc.
                                    Office of Manufacturing
November 8, 2019 Page 3
cc:       Chris K.H. Lin, Esquire
FirstName LastName