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58th Floor, China World Tower A

No.1 Jian Guo Men Wai Avenue

 Beijing 100004, P.R. China

Telephone: +8610 5737 9300
 Facsimile: +8610 5737 9301

www.kirkland.com

October 16, 2024

VIA EDGAR

Mr. Dale Welcome

Mr. Hugh West

Division of Corporation Finance

Office of Manufacturing

U.S. Securities and Exchange Commission

100 F Street, N.E.

Washington, D.C. 20549

 Re: Canaan Inc.

    Form 20-F for the Fiscal Year Ended December 31,
2023

    Filed April 17, 2024

    File No. 001-39127

Dear Mr. Welcome and Mr. West,

On behalf of our client, Canaan Inc., a foreign
private issuer incorporated under the laws of the Cayman Islands (the “Company”), we are submitting to the staff (the
 “Staff”) of the Securities and Exchange Commission (the “Commission”) this letter setting forth
the Company’s responses to the comment contained in the Staff’s letter dated October 7, 2024 regarding the above-referenced
Form 20-F for the fiscal year ended December 31, 2023, File No. 001-39127.

The Staff’s comment is repeated below in
bold and followed by the Company’s response. Capitalized terms used herein and otherwise not defined shall have the meanings assigned
to such terms in the 2023 Form 20-F.

Form 20-F for the Fiscal Year Ended December 31, 2023

Risk Factors

Risks and uncertainties arising from the legal system of mainland
China…, page 31

1. We note the changes you made to your disclosure appearing on
                                            the Summary and Risk Factor sections relating to Risks Relating to Doing Business in the
                                            PRC. It is unclear to us that there have been changes in the regulatory environment in the
                                            PRC since the Form 20-F for the year ended December 31, 2021, that was filed on
                                            April 29, 2022, warranting revised disclosure to mitigate the challenges you face and
                                            related disclosures. The Sample Letters to China-Based Companies sought specific disclosure
                                            relating to the risk that the PRC government may intervene in or influence your operations
                                            at any time, or may exert control over operations of your business, which could result in
                                            a material change in your operations and/or the value of the securities. We remind you that,
                                            pursuant to federal securities rules, the term “control” (including the terms
                                            “controlling,” “controlled by,” and “under common control with”)
                                            as defined in Securities Act Rule 405 means “the possession, direct or indirect,
                                            of the power to direct or cause the direction of the management and policies of a person,
                                            whether through the ownership of voting securities, by contract, or otherwise.” The
                                            Sample Letters also sought specific disclosures relating to uncertainties regarding the enforcement
                                            of laws and that the rules and regulations in China can change quickly with little advance
                                            notice. We do not believe that your current disclosure conveys the same risk. Please restore
                                            your disclosures in these areas to the disclosures as they existed in the Form 20-F
                                            for the year ended December 31, 2021, that was filed on April 29, 2022.

Licensed
foreign lawyers only

Austin
Bay Area Boston Brussels Chicago Dallas Frankfurt Hong Kong Houston London Los Angeles Miami Munich New York Paris
Riyadh Salt Lake City Shanghai Washington, D.C.

    Division of Corporation Finance

    Office of Manufacturing

    U.S. Securities and Exchange Commission

    October 16, 2024
    Confidential

    Page 2

Response:
In response to the Staff’s comment, the Company respectfully proposes to revise the referenced disclosures as follows
(page reference is made to the 2023 Form 20-F to illustrate the approximate location of the disclosures) in its future Form 20-F
filings (with deletions shown as strike-through and additions underlined), subject to updates and adjustments to be made in connection
with any material development of the subject matter being disclosed:

Page 1

We are a Cayman Islands holding company and conduct all
of our operations through our operating subsidiaries. Investors in the ADSs are not purchasing equity securities of our operating subsidiaries
but instead are purchasing equity securities of a Cayman Islands holding company. We face various legal and operational risks and uncertainties
associated with having a significant portion of our operations in China and the complex and evolving PRC laws and regulations.
For example, we face risks associated with regulatory approvals on offerings conducted overseas and foreign investment in issuers with
a certain substantial level of China-based operations, anti-monopoly regulatory actions, regulatory actions for
virtual currency-related business activities and mining activities and oversight on cybersecurity and data privacy, which may negatively
impact our ability to conduct certain businesses, access foreign investments, or list on foreign stock exchange. These risks could result
in a material adverse change in our operations and the value of our ADSs, significantly limit or completely hinder our
ability to offer or continue to offer securities to investors, or cause the value of such securities to significantly decline or become
worthless. For a detailed description of risks relating to doing business in China, see “—D. Risk Factors—Risks Relating
to Doing Business in the PRC.”

Page 6

Risks Relating to Doing Business in the PRC

 · […]

 · Risks
                                            and uncertainties arising from the legal system of mainland China PRC governmental
                                            authorities may intervene or influence our operations at any time, which could result
                                            in a material adverse change in our operations and the value of our ADSs. Also, PRC governmental
                                            authorities’ oversight and control over offerings conducted overseas by, and foreign
                                            investment in, China-based issuers with a substantial level of China-based
                                            operations could significantly limit or completely hinder our ability to
                                            offer or continue to offer securities to investors and result in a material adverse change
                                            in our operations and the value of our ADSs.

    Division of Corporation Finance

    Office of Manufacturing

    U.S. Securities and Exchange Commission

    October 16, 2024
    Confidential

    Page 3

Page 29

We may be subject to fines and other administrative
penalties resulting from the operation of our business, which could materially and adversely affect our business, financial condition
and results of operation.

We are subject to regulation by government authorities in
the PRC and other of countries where we have operations. Some of these These relevant regulatory
authorities may have broad powers to adopt regulations and other requirements affecting or restricting our operations, including
tax policies. Moreover, some of these relevant regulatory authorities may possess significant powers to enforce
applicable regulatory requirements in the event of our non-compliance, including the imposition of fines, sanctions or the revocation
of licenses or permits to operate our business. Any of these events could have a material adverse impact on our results of operation.

Page 30

Any global systemic economic and financial crisis
could negatively affect our business, results of operations, and financial condition.

Any prolonged slowdown in the Chinese or global economy
may have a negative impact on our business, results of operations and financial condition. The global financial markets have experienced
significant disruptions since 2008 and the United States, Europe and other economies have experienced periods of recession. The recovery
from the lows of 2008 and 2009 has been uneven and there are new challenges, including the escalation of the European sovereign debt
crisis from 2011 and the slowdown of the PRC’s economic growth since 2012, which may continue. There is also the prospect of a
brewing global recession as the result of the COVID-19 pandemic. There is considerable uncertainty over the long-term effects of the
expansionary monetary and fiscal policies adopted by the central banks and financial authorities of some of the world’s leading
economies, including the United States and the PRC. There have also been concerns over unrest in Ukraine, the Middle East and Africa,
which have resulted in volatility in financial and other markets. There have also been concerns over the United Kingdom leaving the European
Union as well as the significant potential changes to United States trade policies, treaties and tariffs, including trade policies and
tariffs regarding the PRC. There have also been concerns about the economic effect of the tensions in the relationship between the PRC
and surrounding Asian countries. There were and could be in the future a number of domino effects from such turmoil on our business,
including significant decreases in orders from our customers; insolvency of key suppliers resulting in product delays; inability of customers
to obtain credit to finance purchases of our products and/or customer insolvencies; and counterparty failures negatively impacting our
operations. Any systemic economic or financial crisis could cause revenues for the semiconductor industry as a whole to decline dramatically
and could materially and adversely affect our results of operations.

    Division of Corporation Finance

    Office of Manufacturing

    U.S. Securities and Exchange Commission

    October 16, 2024
    Confidential

    Page 4

Pages 30-31

Economic, political and social conditions as well
as governmental policies in the PRC could adversely affect our business, prospects, financial condition and financial results.

A significant portion of our assets and operations are located
in China. Accordingly, our business, financial condition, results of operations and prospects may be influenced to a significant degree
by economic, political and social conditions in China generally. The PRC economy differs from the economies of most developed countries
in many aspects, including:

 · political
                                            structure;

 · level
                                            of government involvement and control;

 · growth
                                            rate and level of development;

 · level
                                            and control of capital investment and reinvestment;

 · control
                                            of foreign exchange; and

 · allocation
                                            of resources.

The PRC economy has been transitioning from a centrally
planned economy to a more market-oriented economy for approximately four decades as the PRC government has implemented economic reform
measures to utilize market forces in the development of the PRC economy. We cannot predict whether changes in the economic, political
and social conditions of the PRC and in its laws, regulations and policies will have any adverse effect on our current or future business,
financial condition or results of operations.

More specifically, many of the economic reforms carried
out by the PRC government are unprecedented or experimental and are expected to be refined and improved over time. This refining and
adjustment process may not necessarily have a positive effect on our operations and business development. These actions, as well as other
actions and policies of the government of the PRC, could cause a decrease in the overall level of economic activity in the PRC and the
surrounding regions and, in turn, have an adverse impact on our business and financial condition.

    Division of Corporation Finance

    Office of Manufacturing

    U.S. Securities and Exchange Commission

    October 16, 2024
    Confidential

    Page 5

Page 31

Changes to and uncertainties in the legal system of
the PRC may have a material adverse impact on our business, financial condition and results of operations. Legal protections available
to you under the legal system of the PRC may be limited.

The PRC is still in the process of developing a comprehensive
statutory framework. Since 1979, the PRC government has established a commercial law system, and significant progress has been made in
promulgating laws and regulations relating to economic affairs and matters such as corporate organization and governance, foreign investment,
commerce, taxation and trade. However, many of these laws and regulations are relatively new, and the implementation and interpretation
of these laws and regulations remain uncertain in many areas. It may be difficult to obtain swift and equitable enforcement or
to obtain enforcement of a judgment by a court of another jurisdiction. Consequently, developments and changes in the PRC laws and regulations,
including their interpretation and enforcement, may have a material and adverse effect on our business, financial condition and results
of operations. Furthermore, the legal protections available to you under the PRC legal system may be limited.

Pages 31-32

Risks
and uncertainties arising from the legal system of mainland China PRC governmental authorities may intervene
or influence our operations at any time, which could result in a material adverse change in our operations and the value of our ADSs.
Also, PRC governmental authorities’ oversight and control over offerings conducted overseas by, and foreign investment in, issuers
with a certain substantial level of China-based operations could significantly limit or completely
hinder our ability to offer or continue to offer securities to investors and result in a material adverse change in our operations
and the value of our ADSs.

We conduct a substantial portion of our business
primarily through our PRC operating subsidiaries. Our operations in China are governed by PRC laws and regulations.
The PRC governmental authorities have significant oversight and discretion over the conduct of our business, and it may intervene
or influence our operations at any time, which could result in a material adverse change in our operations and/or the value of our ADSs.
Also, the PRC governmental authorities have indicated an intent to exert more oversight and control over offerings that are conducted
overseas and/or foreign investment in issuers with a substantial level of China-based operations. Any such action could significantly
limit or completely hinder our ability to offer or continue to offer securities to investors and cause the value of such securities to
significantly decline or be worthless. In addition, implementation of industry-wide regulations directly targeting our operations could
cause the value of our securities to significantly decline. Therefore, investors of our company and our business face potential uncertainty
from actions taken by the PRC governmental authorities affecting our business.

    Division of Corporation Finance

    Office of Manufacturing

    U.S. Securities and Exchange Commission

    October 16, 2024
    Confidential

    Page