Canaan Announces Record Bitcoin Mining Month With Over 109 BTC Mined

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Canaan Inc. (NASDAQ: CAN), an innovator in Bitcoin mining, reported at present their bitcoin mining replace for the month ending May 31, 2025, with 109 bitcoins mined. The firm’s whole bitcoin holdings rose to 1,466 BTC. 

“In May 2025, despite the 10% increase in tariffs on our Malaysia-made Bitcoin mining machines due to ongoing U.S. trade uncertainties, we remained focused on executing our strategic priorities with discipline and agility,” stated the Chairman and CEO of Canaan Nangeng Zhang. “By capitalizing on the favorable momentum in bitcoin prices, we achieved a 25% month-over-month increase in our bitcoin production, reaching a record 109 bitcoins. This performance marks a new monthly high for our mining production and brings our total cryptocurrency holdings to an all-time high of 1,466 bitcoins at month-end.”

As of May 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 Middle East facility delivers 0.03 EH/s energized. Total estimated international capability stands at 8.75 EH/s.

“Our installed and operational hashrates reached 8.75 EH/s and 7.27 EH/s, respectively, underscoring the continued buildout of our global mining operations,” acknowledged Zhang. “We also achieved a new historical high in installed computing power, while maintaining a competitive all-in power cost. This performance demonstrates our ability to execute on our strategy of efficient and sustainable growth.”

“With Bitcoin prices climbing to historic levels, we’re seeing increased global demand for our mining machines,” commented Zhang. “Combined with the strength of our mining operations and our disciplined approach to capital allocation, we remain confident in our business fundamentals and our ability to deliver long-term value to our shareholders.”

On June 9, 2025, the corporate introduced that its CEO and its CFO acquired 817,268 of American Depositary Shares at a mean value of US$0.76 per ADS, exhibiting their perception within the firm’s future.

“My share purchase underscores my belief in Canaan’s vision and the tremendous opportunities ahead,” acknowledged Zhang within the announcement. “Both James and I believe there is a significant disconnect between our current ADS price and the value we believe we can deliver in the coming years.”

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