Canaan Inc. reports 10% increase in August bitcoin mining output

Canaan Inc. (NASDAQ: CAN) mined 98 bitcoins in August 2025, representing a 10% month-over-month increase, according to the company's unaudited mining update released September 8.

The bitcoin mining equipment manufacturer reported its bitcoin treasury reached 1,547 bitcoins at month-end. The company's deployed hashrate stood at 8.6 EH/s, with operating hashrate at 7.5 EH/s. An additional 1.46 EH/s of computing power has been delivered to mining locations but not yet installed, which would bring total estimated computing power above 10 EH/s when operational.

Canaan operates eight active mining projects globally across the United States, Canada, Ethiopia, Malaysia and the Middle East. The company's North American operations achieved average miner efficiency of 19.9 J/TH, while non-North American operations averaged 28.9 J/TH for a global average of 25.5 J/TH.

The company's average all-in power cost during August was $0.042 per kWh, with an average revenue split of 58.2%. Total installed power capacity reached 216.0 MW globally, with 83.6 MW in North America and 132.4 MW in other regions.

Canaan announced two recent business developments. On August 28, the company collaborated with Bitfury on Avalon ASIC-powered upgrade kits to enhance up to 10MW of existing mining capacity at Bitfury's North American facility. On September 8, Canaan announced a partnership with Luxor Technology Corporation to provide financing solutions for customers acquiring Avalon mining machines.

The partnership with Luxor facilitated the sale of more than 5,000 Avalon A15 Pro bitcoin mining machines in August to a U.S.-based institutional bitcoin miner, according to the press release statement.

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