Canaan Inc. Provides August 2025 Bitcoin Production and Mining Operation Updates
Rhea-AI Summary
Canaan Inc. (NASDAQ: CAN) reported strong bitcoin mining performance for August 2025, with 98 bitcoins mined, representing a 10% month-over-month increase. The company's bitcoin treasury reached 1,547 bitcoins at month-end.
Canaan achieved significant operational milestones, including a deployed hashrate of 8.6 EH/s and expected computing power exceeding 10 EH/s globally. The company improved efficiency in North America, reducing average miner performance to below 20J/TH. Operations span across 8 active mining projects in multiple regions, with Ethiopia and America being the largest contributors.
Notable developments include a collaboration with Bitfury for a 10MW infrastructure upgrade using Avalon® ASIC kits, and a partnership with Luxor Technology to provide financing solutions, resulting in the sale of over 5,000 Avalon® A15 Pro miners to a U.S.-based institutional client.
Positive
- Achieved 10% month-over-month increase in bitcoin production to 98 BTC
- Substantial bitcoin treasury of 1,547 BTC demonstrates strong holding strategy
- Reduced North American miner efficiency below 20J/TH for improved performance
- Secured sale of over 5,000 Avalon® A15 Pro miners through Luxor partnership
- Global computing power expected to exceed 10 EH/s with 1.46 EH/s pending installation
- Maintains low average power cost of $0.042/kWh
Negative
- Voluntary exit from South Texas hosting site affected operations in July
- Higher miner efficiency gap between North America (19.9 J/TH) and non-North America operations (28.9 J/TH)
- Some mining machines remain offline during redeployment process
News Market Reaction – CAN
In the Sep 9 session, CAN gained 0.31%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Bitcoins mined month-over-month increases
Total estimated computing power exceeds 10 EH/s globally
Management Commentary
"We're pleased to report strong month-over-month improvement across all key metrics of our Bitcoin mining operations," said Nangeng Zhang, chairman and chief executive officer of Canaan. "In August, we mined 98 bitcoins, supported by our enhanced operating hashrate and continued low average power costs. We expanded our deployed hashrate by significantly scaling operations in the
"These results highlight both our resilience and adaptability," Zhang continued. "After voluntarily exiting a less efficient hosting site in
August 2025 Bitcoin Mining Updates (unaudited)
Key Metrics | Results (Rounded Numbers) |
Bitcoins Mined During the Month | 98 Bitcoins |
Month-End Bitcoins Owned by Canaan Inc. on | 1,547 Bitcoins |
Month-End Deployed Hashrate (EH/s) | 8.60 EH/s |
Month-End Operating Hashrate (EH/s) | 7.50 EH/s |
Month-End Average Revenue Split[2] | 58.2 % |
Average All-in Power Cost During the Month[3] |
August 2025 Bitcoin Mining Infrastructure Updates (unaudited)
Non- | Global | ||
Month-End Average | 19.9 J/TH | 28.9 J/TH | 25.5 J/TH |
Month-End Installed | 83.6 MW | 132.4 MW | 216.0 MW |
Notes:
1. Defined as the total number of bitcoins owned by the Company on its Balance Sheet including any bitcoins receivable, excluding bitcoins that the Company has received as customer deposits.
2. Defined as the weighted average percentage that Canaan would share from the total revenues generated according to the applicable joint mining arrangements if
3. Defined as the weighted average cost of power if
Current Mining Projects (As of August 31, 2025)： | |||||
Regions | Active Mining | Energized | Installed | Expected | Estimated |
Global | 8 | 7.50 EH/s | 8.60 EH/s | 1.46 EH/s | 10.06 EH/s |
America | 3 | 3.63 EH/s | 4.24 EH/s | 0.47 EH/s | 4.71 EH/s |
1 | 0.02 EH/s | 0.02 EH/s | 0 EH/s | 0.02 EH/s | |
2 | 3.75 EH/s | 4.22 EH/s | 0.99 EH/s | 5.21 EH/s | |
1 | 0.04 EH/s | 0.04 EH/s | 0 EH/s | 0.04 EH/s | |
1 | 0.06 EH/s | 0.08 EH/s | 0 EH/s | 0.08 EH/s | |
Notes:
4. Defined as the amount of computing power that could theoretically be generated if all mining machines that have been energized are currently in operation including mining machines that may be temporarily offline.
5. Defined as the sum of Energized Computing Power and computing power that has been installed but not yet energized, if any.
6. Defined as the amount of computing power that has been delivered to the country where each mining project is located in but not yet installed.
7. Defined as the sum of Installed Computing Power and Expected Computing Power.
Recent Corporate Updates:
Bitfury Orders Avalon® ASIC Kits for North American Infrastructure Upgrade
On August 28, 2025, Canaan announced that it had collaborated with Bitfury on its Avalon® ASIC-powered upgrade kits to enhance up to 10MW of existing mining capacity at Bitfury's North American facility. The order builds on a strategic relationship that began in July 2024, following Canaan's prior delivery of 4,500 Avalon® A14 miners, and reflects a joint R&D effort that combines Canaan's latest ASIC technology with Bitfury's infrastructure expertise. By repurposing existing systems with Avalon® ASIC Kit, Bitfury can reduce capital expenditures and electronic waste while achieving greater efficiency and competitiveness, underscoring both companies' commitment to sustainable innovation, cost optimization, and leadership in the North American mining market.
Partners with Luxor to Expand Institutional Miner Financing
On September 8, 2025, Canaan announced a partnership with Luxor Technology Corporation ("Luxor") to provide flexible financing solutions, potentially making it easier for customers to acquire Avalon® mining machines. Through this partnership, Luxor will directly offer its mining customers non-dilutive financing at highly competitive rates with low collateral requirements, which could lead to increased institutional adoption and capital deployment. The partnership already facilitated the sale of more than 5,000 Avalon® A15 Pro bitcoin mining machines in August to a leading
About Canaan Inc.
Established in 2013, Canaan Inc. (NASDAQ: CAN), is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. Canaan has extensive experience in chip design and streamlined production in the ASIC field. In 2013, Canaan's founding team shipped to its customers the world's first batch of mining machines incorporating ASIC technology under the brand name Avalon. In 2019, Canaan completed its initial public offering on the Nasdaq Global Market. To learn more about Canaan, please visit https://www.canaan.io/.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Canaan Inc.'s strategic and operational plans, contain forward-looking statements. Canaan Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC") on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Canaan Inc.'s beliefs and expectations, such as expectations with regard to revenue or mining hash rate deployment, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's goals and strategies; the Company's future business development, the ability of the Company to execute against its goals, financial condition and results of operations; the expected growth of the bitcoin industry and the price of bitcoin; the Company's expectations regarding demand for and market acceptance of its products, especially its bitcoin mining machines; the Company's expectations regarding maintaining and strengthening its relationships with production partners and customers; the Company's investment plans and strategies, fluctuations in the Company's quarterly operating results; competition in its industry; changing macroeconomic and geopolitical conditions, including evolving international trade policies and the implementation of increased tariffs, import restrictions, and retaliatory trade actions; and relevant government policies and regulations relating to the Company and cryptocurrency. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Canaan Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Investor Relations Contact
Canaan Inc.
Xi Zhang
Email: IR@canaan-creative.com
Christensen Advisory
Christian Arnell
Email: canaan@christensencomms.com
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SOURCE Canaan Inc.