Canaan Inc., an innovator in cryptomining, reported a significant increase in its bitcoin production for May 2025, achieving a 25% month-over-month rise to a record 109 bitcoins. This performance elevated the company's total cryptocurrency holdings to an all-time high of 1,466 bitcoins by the end of the month. Despite a 10% increase in tariffs on its Malaysia-made bitcoin mining machines due to ongoing U.S. trade uncertainties, the company leveraged favorable bitcoin price momentum to enhance its output. Furthermore, Canaan has been actively expanding its self-mining operations in North America, energizing an additional 0.91 EH/s across its four mining projects in the region. By the end of May 2025, Canaan's deployed hashrate reached 8.75 EH/s, with an operating hashrate of 7.27 EH/s. The company's global mining infrastructure updates revealed a month-end installed power capacity of 239.7 MW, with miner efficiency averaging 27.4 J/TH globally. Despite market challenges, Canaan remains committed to executing its strategic priorities to deliver value to its shareholders.
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