Canaan Inc. (NASDAQ: CAN), an innovator in Bitcoin mining, reported Today their bitcoin mining report for the month ending on May 31, 2025. The total amount of bitcoins owned by the company has risen to 1466 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,” Canaan’s Chairman and CEO, Nangeng Zhao. “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.”
Canaan’s mining projects will add 8.75 EH/s to the hashrate deployed by May 31 2025. Canada contributes 0.02 EH/s to the 3.09 EH/s of energized hashrate in America. Ethiopia contributes 4.13 EH/s and Middle East delivers 0.03 EH/s. Global capacity estimated 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,” Zhang stated “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.”
In 2025, on the 9th of June, the company announced Its CEO and CFO bought 817,268 American depositary shares for an average price per ADS of US$0.76. This shows their faith in the future of the business.
“My share purchase underscores my belief in Canaan’s vision and the tremendous opportunities ahead,” Zhang announced in an 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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Source: bitcoinmagazine.com
