Singapore, April 10, 2025 — Canaan Technology (CAN.US), an innovator in cryptocurrency mining, released unaudited operational updates for March 2025 Bitcoin mining activities.
Key Highlights from CEO Zhang Nangeng
Chairman and CEO Zhang Nangeng emphasized:
- North American Expansion: Successful execution of growth plans, strengthening partnerships, and negotiating strategic collaborations to advance mining objectives.
- Production Growth: Mined 90 Bitcoin in March, a 9.8% increase from February.
- Infrastructure Boost: Added 0.32 EH/s of installed hashrate in North America.
- Future Capacity: Recent agreements with Mawson and other partners in Pennsylvania and Texas will elevate self-mining capacity by 4.7 EH/s upon full deployment.
Product Innovation
Canaan completed the tape-out process for its next-gen Avalon A16 series miners, focusing on efficiency and user experience. Rigorous testing precedes release to ensure reliable performance data.
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March 2025 Bitcoin Mining Business Snapshot (Unaudited)
Operational Metrics
- Bitcoin Holdings: Total Bitcoin held (including receivables, excluding client-collateralized assets).
- Revenue Share: Weighted average percentage from joint mining arrangements at 100% operational rate.
- Power Costs: Electricity-weighted average cost under full deployment.
Active Mining Projects (as of March 31, 2025)
- Theoretical Hashrate: Potential output if all powered machines ran continuously.
- Installed vs. Pending: Breakdown of operational and yet-to-be-activated hashrate.
Recent Developments
Self-Mining Expansion
- Partnered with Mawson Hosting LLC (Pennsylvania) and a Texas-based facility, adding 4.7 EH/s to North American operations.
Technology Advancements
- Avalon A16 Series: Finalized tape-out; real-world data pending comprehensive testing.
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FAQ
Q: How does Canaan ensure mining efficiency?
A: Through advanced hardware like the A16 series and strategic partnerships optimizing power and hashrate.
Q: What’s the significance of the North American expansion?
A: Enhances operational scale and leverages stable infrastructure for long-term growth.
Q: When will the A16 miners launch?
A: Post thorough testing to guarantee performance accuracy and reliability.
Q: How does Canaan handle market volatility?
A: Balances innovation with flexible strategies to sustain growth and shareholder value.