Singapore, April 10, 2025 — Canaan Technology (NASDAQ: CAN), an innovator in cryptocurrency mining solutions, released unaudited operational updates for its Bitcoin mining activities in March 2025.
Executive Highlights
Statement by Chairman & CEO, Mr. Nangeng Zhang:
"Our North American expansion strategy continues to yield strong results, demonstrating our ability to forge strategic partnerships that align with our mining objectives. In March, we mined 90 BTC, a 9.8% increase from February, while adding 0.32 EH/s of installed capacity. Pending full deployment of new projects in Pennsylvania and Texas, our self-mining operations will grow by 4.7 EH/s."
Key Operational Metrics (Unaudited)
- Bitcoin Holdings: Total BTC held on the balance sheet (excludes customer-collateralized assets).
- Revenue Share: Weighted average percentage under joint mining agreements at 100% operational capacity.
- Power Cost: Electricity-weighted average cost at full deployment.
Current Mining Projects (as of March 31, 2025)
| Metric | Description |
|---|---|
| Theoretical Hashrate | Total potential output if all powered miners operate continuously. |
| Installed Capacity | Sum of active hashrate and offline-ready equipment. |
| Pending Deployment | Delivered but uninstalled hashrate (by country). |
| Total Projected Capacity | Installed + expected hashrate upon completion. |
Strategic Developments
1. Self-Mining Expansion
- Signed 3-year hosting agreements with Mawson (Pennsylvania) and a 24-month deal in Texas, adding 4.7 EH/s to North American operations.
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2. Product Advancements
- Completed tape-out for Avalon A16 series miners. Rigorous testing precedes market release to ensure performance transparency.
About Canaan Technology
Canaan Inc. (NASDAQ: CAN) pioneers ASIC-based high-performance computing, specializing in chip design and mining hardware. Founded in 2013, Canaan launched the industry’s first ASIC Bitcoin miner under the Avalon brand. The company went public on Nasdaq in 2019.
FAQs
Q: How does Canaan ensure mining efficiency?
A: Through advanced ASIC designs, strategic partnerships, and continuous hardware innovation like the A16 series.
Q: What’s the significance of the 4.7 EH/s expansion?
A: It strengthens Canaan’s self-mining capabilities, reducing reliance on third-party infrastructure.
Q: When will the A16 miners be available?
A: After comprehensive testing to verify real-world performance metrics.
Disclaimer: Market conditions are volatile. This content is informational and not financial advice.
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