SINGAPORE, July 7, 2025 /PRNewswire/ — Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Firm”), an innovator in crypto mining, as we speak launched its unaudited bitcoin mining replace for the month ending June 30, 2025.
Administration Commentary
“Our June manufacturing numbers demonstrated the resilience of our mining operations,” mentioned Nangeng Zhang, chairman and chief govt officer of Canaan, “Following a record-breaking Could, June manufacturing totaled 88 bitcoins, primarily attributable to a brief discount in working hashrate. The lower was primarily attributable to decreased uptime from weather-related curtailment and upkeep. Through the month, sure areas of Texas had been impacted by each extreme storms and steady excessive temperatures, leading to our internet hosting companion shutting down some machines for web site security in addition to web site upkeep. In Ethiopia, our 100% inexperienced mining actions had a decrease uptime attributable to seasonal drought-related nationwide electrical energy restrictions.
“Importantly, we continued to construct our bitcoin reserves, closing June with a file excessive of 1,484 bitcoins in our complete cryptocurrency holdings. This milestone underscores each our monetary power and our long-term dedication to strategically accumulating bitcoin. This marks a brand new file for our cryptocurrency holdings, reinforcing our monetary flexibility and dedication to constructing strategic bitcoin reserves.
“On the similar time, we continued advancing our North American growth, with roughly 1 EH/s of latest computing energy presently en path to our U.S. amenities. Set up is on monitor for completion by the top of July 2025, additional strengthening our operational presence within the area.
“Moreover, in mild of ongoing market challenges, we stay centered on defending shareholder worth. We continued executing our inventory repurchase program all through June, demonstrating our confidence within the Firm’s long-term prospects and underscoring our disciplined capital allocation technique.”
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June 2025 Bitcoin Mining Updates (unaudited) |
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Key Metrics |
Outcomes (Rounded Numbers) |
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Bitcoins Mined Through the Month |
88 Bitcoins |
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Month-Finish Bitcoins Owned by Canaan Inc. on |
1,484 Bitcoins |
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Month-Finish Deployed Hashrate (EH/s) |
8.15 EH/s |
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Month-Finish Working Hashrate (EH/s) |
6.57 EH/s |
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Month-Finish Common Income Break up[2] |
62.3 % |
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Common All-in Energy Price Through the Month[3] |
US$0.045/kWh |
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June 2025 Bitcoin Mining Infrastructure Updates (unaudited) |
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North America |
Non-North America |
World |
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Month-Finish Common |
20.1 J/TH |
29.7 J/TH |
26.3 J/TH |
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Month-Finish Put in |
76.3 MW |
139.6 MW |
216.0 MW |
Notes:
1. Outlined as the whole variety of bitcoins owned by the Firm on its Steadiness Sheet together with any bitcoins receivable, excluding bitcoins that the Firm has acquired as buyer deposits.
2. Outlined because the weighted common share that Canaan would share from the whole revenues generated in accordance with the relevant joint mining preparations if 100% of the mining machines consisting of Put in Computing Energy (as outlined beneath) had been energized.
3. Outlined because the weighted common value of energy if 100% of the mining machines consisting of Put in Computing Energy had been energized.
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Present Mining Tasks (As of June 30, 2025)： |
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Areas |
Energetic Mining |
Energized |
Put in |
Anticipated |
Estimated |
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World |
9 |
6.57 EH/s |
8.15 EH/s |
0.78 EH/s |
8.94 EH/s |
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America |
4 |
2.60 EH/s |
3.66 EH/s |
1.00 EH/s |
4.66 EH/s |
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Canada |
1 |
0.02 EH/s |
0.02 EH/s |
0 EH/s |
0.02 EH/s |
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Ethiopia |
2 |
3.8 EH/s |
4.22 EH/s |
0 EH/s |
4.22 EH/s |
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Kazakhstan[8] |
1 |
0.12 EH/s |
0.22 EH/s |
-0.22 EH/s |
0 EH/s |
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Center East |
1 |
0.03 EH/s |
0.04 EH/s |
0 EH/s |
0.04 EH/s |
Notes:
4. Outlined as the quantity of computing energy that might theoretically be generated if all mining machines which have been energized are presently in operation together with mining machines which may be briefly offline.
5. Outlined because the sum of Energized Computing Energy and computing energy that has been put in however not but energized, if any.
6. Outlined as the quantity of computing energy that has been delivered to the nation the place every mining challenge is positioned in however not but put in.
7. Outlined because the sum of Put in Computing Energy and Anticipated Computing Energy.
8. The Firm introduced offline roughly 0.59 EH/s of mining computing energy in Kazakhstan and expects to uninstall the remaining 0.22EH/s within the area in July 2025 because of the change in business circumstances.
Latest Company Updates:
Govt Share Buy
On June 9, 2025, the Firm introduced that its chief govt officer and its chief monetary officer have acquired an mixture of 817,268 American Depositary Shares (“ADSs”) at a mean worth of US$0.76 per ADS, demonstrating their continued confidence within the Firm’s long-term prospects.
US$30 Million Inventory Repurchase Program
On Could 27, 2025, the Firm introduced that its board of administrators has approved a share repurchase program underneath which the Firm might repurchase as much as US$30 million price of its excellent (i) American depositary shares (“ADSs”), every representing 15 Class A strange shares, and/or (ii) Class A strange shares, over the following six months ranging from Could 27, 2025.
Latest Operational Replace:
Growth of Self-Mining Operations
The Firm has shipped roughly 1 EH/s of extra computing energy to U.S. websites. These machines are anticipated to return on-line by the top of July 2025, underpinning its North American growth technique.
About Canaan Inc.
Established in 2013, Canaan Inc. (NASDAQ: CAN), is a know-how firm specializing in ASIC high-performance computing chip design, chip analysis and improvement, computing gear manufacturing, and software program providers. Canaan has intensive expertise in chip design and streamlined manufacturing within the ASIC area. In 2013, Canaan’s founding crew shipped to its clients the world’s first batch of mining machines incorporating ASIC know-how in bitcoin‘s historical past underneath the model identify Avalon. In 2019, Canaan accomplished its preliminary public providing on the Nasdaq World Market. To study extra about Canaan, please go to https://www.canaan.io/.
Protected Harbor Assertion
This press launch incorporates forward-looking statements. These statements are made underneath the “secure harbor” provisions of the U.S. Non-public Securities Litigation Reform Act of 1995. These forward-looking statements may be recognized by terminology corresponding to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and related statements. Amongst different issues, the enterprise outlook and quotations from administration on this announcement, in addition to Canaan Inc.’s strategic and operational plans, include forward-looking statements. Canaan Inc. might also make written or oral forward-looking statements in its periodic reviews to the U.S. Securities and Trade Fee (“SEC”) on Varieties 20-F and 6-Ok, in its annual report back to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or workers to 3rd events. Statements that aren’t historic details, together with statements about Canaan Inc.’s beliefs and expectations, corresponding to expectations with regard to income or mining hash charge deployment, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. Quite a lot of elements may trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: the Firm’s targets and methods; the Firm’s future enterprise improvement, the power of the corporate to execute in opposition to its targets, monetary situation and outcomes of operations; the anticipated progress of the bitcoin trade and the worth of bitcoin; the Firm’s expectations relating to demand for and market acceptance of its merchandise, particularly its bitcoin mining machines; the Firm’s expectations relating to sustaining and strengthening its relationships with manufacturing companions and clients; the Firm’s funding plans and methods, fluctuations within the Firm’s quarterly working outcomes; competitors in its trade; altering macroeconomic and geopolitical circumstances, together with evolving worldwide commerce insurance policies and the implementation of elevated tariffs, import restrictions, and retaliatory commerce actions; and related authorities insurance policies and laws referring to the Firm and cryptocurrency. Additional data relating to these and different dangers is included within the Firm’s filings with the SEC. All data supplied on this press launch and within the attachments is as of the date of this press launch, and Canaan Inc. doesn’t undertake any obligation to replace any forward-looking assertion, besides as required underneath relevant regulation.
Investor Relations Contact
Canaan Inc.
Xi Zhang
Electronic mail: IR@canaan-creative.com
ICR, LLC.
Robin Yang
Tel: +1 (347) 396-3281
Electronic mail: canaan.ir@icrinc.com
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SOURCE Canaan Inc.
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