#None #crypto mining #Canaan Inc. #Q1 2025

Canaan Inc. Reports Stellar Q1 2025 Performance

Canaan Inc. (NASDAQ: CAN), renowned for its innovative contributions to crypto mining, has recently disclosed its unaudited financial results for the first quarter of 2025. The company reported total revenues of $82.8 million, showcasing a remarkable growth of 135.9% year-over-year and surpassing its own guidance of $75 million. Such impressive performance highlights Canaan's strong position in a challenging market environment.

In terms of specifics, the mining revenue rose to $24.3 million—an increase of 131.9% compared to the previous year—indicating robust operational activity that resulted in the mining of 259 bitcoins, averaging an impressive $93,466 profit each. This growth trajectory is powered by the successful mass shipment of Canaan's A15 series, which led to a 62.6% year-over-year boost in total computing power sold, amounting to 5.5 million Terahash per second (TH/s).

Canaan's executives addressed the challenges faced during this quarter. Nangeng Zhang, the chairman and CEO, spoke about the industry-wide volatility brought on by seasonal fluctuations paired with significant new U.S. tariffs, underscoring their impact on operational stability. Despite these external pressures, Canaan maintained strong shipment volumes that positioned the company to achieve breakeven gross margins for the first time in two years amidst a prolonged bear market.

Amidst rising operational pressures, Canaan's Chief Financial Officer, Jin