Canaan Inc. (NASDAQ: CAN), an innovator in Bitcoin mining, reported in the present day their bitcoin mining replace for the month ending Could 31, 2025, with 109 bitcoins mined. The corporate’s whole bitcoin holdings rose to 1,466 BTC.
“In Could 2025, regardless of the ten% improve in tariffs on our Malaysia-made Bitcoin mining machines because of ongoing U.S. commerce uncertainties, we remained centered on executing our strategic priorities with self-discipline and agility,” mentioned the Chairman and CEO of Canaan Nangeng Zhang. “By capitalizing on the favorable momentum in bitcoin costs, we achieved a 25% month-over-month improve in our bitcoin manufacturing, reaching a document 109 bitcoins. This efficiency marks a brand new month-to-month excessive for our mining manufacturing and brings our whole cryptocurrency holdings to an all-time excessive of 1,466 bitcoins at month-end.”
As of Could 31, 2025, Canaan’s present mining tasks add to 7.27 EH/s of working and eight.75 EH/s deployed hashrate. In America, 3.09 EH/s is energized, together with a 0.02 EH/s in Canada. Ethiopia’s contribute 4.13 EH/s energized and the Center East facility delivers 0.03 EH/s energized. Whole estimated international capability stands at 8.75 EH/s.
“Our put in and operational hashrates reached 8.75 EH/s and seven.27 EH/s, respectively, underscoring the continued buildout of our international mining operations,” said Zhang. “We additionally achieved a brand new historic excessive in put in computing energy, whereas sustaining a aggressive all-in energy value. This efficiency demonstrates our potential to execute on our technique of environment friendly and sustainable development.”
“With Bitcoin costs climbing to historic ranges, we’re seeing elevated international demand for our mining machines,” commented Zhang. “Mixed with the energy of our mining operations and our disciplined strategy to capital allocation, we stay assured in our enterprise fundamentals and our potential to ship long-term worth to our shareholders.”
On June 9, 2025, the corporate announced that its CEO and its CFO acquired 817,268 of American Depositary Shares at a median worth of US$0.76 per ADS, exhibiting their perception within the firm’s future.
“My share buy underscores my perception in Canaan’s imaginative and prescient and the great alternatives forward,” said Zhang within the announcement. “Each James and I consider there’s a important disconnect between our present ADS worth and the worth we consider we are able to ship within the coming years.”