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Canaan Inc. Unveils March 2025 Bitcoin Mining Updates

Canaan Inc. (NASDAQ: CAN), a leader in crypto mining technology, has recently shared its unaudited bitcoin mining performance for March 2025. This update reflects the company’s strategic expansion and commitment to enhancing its mining operations, especially within North America.

Key Highlights from the March 2025 Mining Report

As part of its ongoing efforts, Canaan successfully mined 90 bitcoins in March, representing a notable increase of 9.8% from February's records. The company also expanded its mining capacity, achieving an installed computing power of 6.60 exahash per second (EH/s), which is crucial for optimizing mining efficiency and output.

Chairman and CEO Nangeng Zhang elaborated on the company's strategic partnerships that are facilitating this growth. Specifically, Canaan has signed significant agreements with partners like Mawson for projects in Pennsylvania and Texas, which are expected to contribute an additional 4.7 EH/s of computing power once fully operational. This expansion not only underscores Canaan's commitment to scaling its mining capabilities but also illustrates its ability to forge effective partnerships in the competitive crypto space.

Innovations and Technological Developments

In addition to operational growth, Canaan has been active in product innovation. The company recently completed the tape-out process for its next-generation A16 mining machine. Following a careful testing phase, Canaan plans to release these cutting-edge machines along with real-world performance data, ensuring that customers receive a reliable and efficient mining solution.

Zhang expressed confidence in Canaan’s strategic path, emphasizing the company’s focus on balancing efficiency, innovation, and growth. He noted that the changing market landscape necessitates agility, and Canaan aims to leverage advanced hardware and strategic partnerships to meet future challenges.

Summary of Operational Metrics

• - Total Bitcoins Mined (March 2025): 90 Bitcoins
• - Total Bitcoins Owned: 1,408 Bitcoins
• - Deployed Hashrate: 6.60 EH/s
• - Operating Hashrate: 5.97 EH/s
• - Average Revenue Split: 58.6%
• - Average Power Cost: $0.043/kWh

These figures illustrate Canaan's operational capacity and provide insight into its financial health as it navigates the complexities of the cryptocurrency market. The successful execution of its business strategy is evident as the company continues to optimize its performance across its mining fleet.

Future Outlook

Looking ahead, Canaan Inc. aims to further enhance its operations by tapping into new opportunities while maintaining its focus on delivering high-quality products and services. With ongoing advancements in mining technology and strategic collaborations, the company is better positioned to meet the demands of the evolving crypto landscape.

About Canaan Inc.

Founded in 2013, Canaan Inc. is a technology-centric company specializing in the design and production of high-performance computing chips for cryptocurrency mining. It gained recognition for launching the first ASIC technology-based mining machines under the Avalon brand. Going public in 2019, Canaan has since focused on innovating within the crypto mining sector to lead the industry into the future. For more information, visit Canaan's website.