#Cryptocurrency #Singapore #Bitcoin Mining #Canaan Inc

Canaan Inc. July 2025 Bitcoin Mining Update

Canaan Inc. (NASDAQ: CAN), a leader in the crypto mining sector, has published its bitcoin mining activities for July 2025, showcasing a notable enhancement in its operational performance. The report details a significant production output of 89 bitcoins for the month, driven largely by favorable bitcoin pricing and reductions in energy costs.

Management Insights

Nangeng Zhang, Chairman and CEO of Canaan, expressed satisfaction with the company’s quarterly performance, emphasizing the impressive recovery from previous challenges. The company’s newly adopted Cryptocurrency Holding Policy has been instrumental, allowing Canaan to retain mined bitcoins as long-term assets rather than liquidating them immediately. As of the end of July, Canaan's total bitcoin reserves stood at 1,511 bitcoins.

Zhang acknowledged the hurdles faced in the mining operations, particularly disruptions due to weather conditions in June, which hampered uptime. However, efforts have been made to stabilize the situation by providing high-quality hardware and services to operational partners. The decline in both deployed and operating hashrates was attributed to the deliberate exit from Kazakhstan and the termination of an agreement with a low-performing facility in South Texas. Canaan is actively relocating miners from these sites, projecting that about half will return to online operations in August.

Mining Performance Metrics

The highlights from the mining update include:

• - Bitcoins Mined: 89 bitcoins
• - Total Bitcoins Owned: 1,511 bitcoins
• - Deployed Hashrate: 7.95 EH/s
• - Operating Hashrate: 6.24 EH/s
• - Average Revenue Split: 57.1%
• - Average Power Cost: $0.042/kWh

These metrics underscore Canaan's commitment to enhancing mining economics and optimizing returns for investors. The company is adapting to shifts in performance by partnering with better-performing hosting providers, reinforcing its strong standing in the mining community. The positive recognition for Avalon miners is further supported by increasing orders from major public mining entities.

Infrastructure and Operations Update

As of the end of July, Canaan operates across various global regions with 7 active mining projects. The breakdown includes:

• - North America: 3 projects producing an energized computing power of 2.63 EH/s.
• - Ethiopia: 2 projects with a larger contribution of 3.55 EH/s.

Recently, Canaan terminated an agreement involving about 0.96 EH/s of mining power in South Texas and is currently transferring these assets to more capable hosting partners. It is anticipated that around 0.5 EH/s of this capacity will become operational again in the coming weeks.

Recent Corporate Actions

On July 17, 2025, Canaan sealed its fourth purchase agreement with Cipher Mining, highlighting the sustained trust in Canaan’s Avalon A15Pro miners essential for Cipher’s new Black Pearl facility. This ongoing business relationship illustrates the strength of Canaan's product line and the rising demand for its advanced mining solutions.

Moreover, on July 30, Canaan formalized its Cryptocurrency Holding Policy, which guides the management of its digital assets. Bitcoin will be emphasized as a primary reserve asset with a strategy that favors retention over immediate sale unless liquidity crises arise.

Canaan also collaborated with CleanSpark Inc. on July 31 for additional Avalon A1566I immersion cooling miners, fortifying CleanSpark’s advanced mining operations in Georgia. The endeavors underscore Canaan’s focus on efficiency, energy conservation, and scalable infrastructures.

Conclusion

Established in 2013, Canaan has carved a significant niche in the ASIC chip industry, pioneer in producing the first-ever ASIC mining machines that changed the landscape of bitcoin mining. With continued strategic adaptations and a focus on sustainability, the company positions itself well in the dynamic crypto mining market. As Canaan continues to expand its operations and partnerships, it aims to reinforce its leadership in the bitcoin mining industry while delivering robust returns for its investors. For more information, visit Canaan's website.