Canaan Inc. Reports Significant Growth in Bitcoin Mining Operations for August 2025

On September 8, 2025, Canaan Inc. (NASDAQ: CAN), a leader in the cryptocurrency mining sector, shared remarkable updates regarding its bitcoin production for the month of August. In this latest report, the company highlighted an increase of 10% in its monthly bitcoin mining output, culminating in a total of 98 bitcoins mined during the month. This growth is attributed to enhanced operational efficiencies and reduced average power costs.

Canaan's CEO, Nangeng Zhang, expressed enthusiasm about the company's performance, citing the significant progress made in scaling operations across various regions, including the U.S. and Southeast Asia. As a result of these efforts, Canaan's total installed computing power reached 8.6 EH/s, with an additional 1.46 EH/s expected to boost total production capacity above 10 EH/s shortly.

At the end of August, Canaan reported a total of 1,547 bitcoins held in its treasury, emphasizing its strategic approach to retaining mined assets as long-term reserves. This decision aligns with the company’s disciplined treasury strategy, underlining its focus on building a sustainable operational model.

Key Operational Expansions

Canaan initiated operations in Southeast Asia and successfully expanded its mining efforts in Ethiopia. These developments were pivotal in increasing its operational capability, making it possible for the company to optimize its mining conditions while expanding its global footprint. Additionally, the company's miners showed impressive performance, achieving an efficiency milestone by reducing the average power consumption to below 20 J/TH for its North American mining operations.

Current Mining Capacity

The data from August shows that Canaan's monthly operating hashrate stood at 7.50 EH/s, with a favorable average revenue split of 58.2%. The company also reported an average all-in power cost of approximately $0.042/kWh, reinforcing its strategic advantage in cost management and operational effectiveness.

The company's growth trajectory is evident from the estimated global computing power, which has now surpassed the significant threshold of 10 EH/s as further projects come online. Canaan's active mining projects currently number eight, with robust computing power deployment across various regions, including three located in North America and two in Ethiopia.

Strategic Partnerships

In addition to operational increases, Canaan announced exciting collaborations aimed at enhancing its market position. On August 28, 2025, the company detailed a partnership with Bitfury to supply Avalon® ASIC upgrade kits, which are set to improve mining capacity across North America’s facilities. This strategic collaboration capitalizes on shared technological advancements, aiming to reduce capital expenses while increasing efficiency.

On September 8, 2025, the company also unveiled plans to partner with Luxor Technology Corporation, aimed at streamlining financing solutions for institutional customers looking to acquire Avalon® mining machines. This partnership reflects a commitment to facilitating increased adoption of Canaan’s mining technology in the institutional market, evidenced by a recent sale of over 5,000 A15 Pro bitcoin mining machines.

Future Outlook

Canaan Inc. is positioning itself strongly within the cryptocurrency ecosystem, setting ambitious targets for operational growth and efficiency improvements in the bitcoin mining industry. The company’s utilization of proprietary ASIC technology in conjunction with optimized operational strategies exemplifies a forward-thinking approach. Canaan's long-term vision includes not only maintaining its leadership in bitcoin production but also exploring emerging opportunities in artificial intelligence-driven computing.

In conclusion, as Canaan Inc. continues to navigate the dynamic landscape of the cryptocurrency market, its August 2025 updates signal strong growth, operational efficiency, and a proactive approach to strategic partnerships. These developments pave the way for Canaan’s sustained success in the rapidly evolving world of digital currencies.