Canaan Boosts Installed Hashrate 82% YoY, Mines 86 BTC In December, Expands To 9.91 EH/s, Grows Crypto Treasury To 1,750 BTC And 3,951 ETH With 250 MW Global Power Capacity
Deployed hashrate up 82% year-over-year, significantly outpacing network growth
Cryptocurrency treasury reaches record highs of 1,750 BTC and 3,951 ETH
Installed power capacity exceeded 250 MW globally
SINGAPORE, Jan. 14, 2026 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today released its unaudited bitcoin mining update for the month ending December 31, 2025.
Management Commentary
"We closed 2025 with solid bitcoin production and continued growth in deployed hashrate, despite a challenging yet evolving macroeconomic environment at the year-end," said Nangeng Zhang, chairman and CEO of Canaan. "As of December, our operating hashrate increased by 61% year-over-year, while installed hashrate grew by 82%, materially outpacing the global Bitcoin network's approximately 34% hashrate growth* over the same period. Against the fluctuations in mining economics, our team executed efficiently, delivering 86 BTC and expanding deployed hashrate to 9.91 EH/s, with an operating hashrate of 7.65 EH/s by month-end. In aggregate, we ended the year with 1,750 BTC and 3,951 ETH, highlighting our strong operational execution and our disciplined treasury management."
"During the recent pullback in network hashprice, we prioritized fleet operations optimization, miner efficiency, and continuing expansion of installed power capacity across our global sites. By month-end, our global average miner efficiency improved to 24.3 J/TH and installed power capacity increased to 250.4 MW, solidifying our foundation for future growth."
"As we enter 2026, we are encouraged by improving market conditions and remain confident in bitcoin's long‑term potential. We believe that bitcoin will become increasingly integrated with the global energy landscape. Consistent with this view, we are advancing the convergence of mining and energy solutions through targeted energy-efficiency initiatives, while supporting greater network resilience by empowering individuals to participate in the network building through multi-functional home-use mining machines. These efforts are intended to strengthen network decentralization, enable practical energy reuse, and reinforce bitcoin's long-term resilience, while supporting the Company's sustainable growth strategy."
* Source: TheMinerMag online, January 8, 2026.
2025 Full-Year Treasury Activity Highlights
Throughout 2025, Canaan's treasury strategy remained focused on operational reinvestment and reserve scaling. During the year, the Company added 1,091 BTC through mining operations and 128 BTC through market purchases. These inflows were partially offset by 776 BTC deployed for power-related expenditures. In addition, the Company received 13 BTC from sales-related income and 0.83 BTC in interest income. Collectively, these movements brought the Company's bitcoin holdings to 1,750 BTC as of December 31, 2025, a 35% increase from 1,293 BTC as of December 31, 2024.
Meanwhile, the Company's ETH holdings increased from 3 ETH as of December 31, 2024, to 3,951 ETH as of December 31, 2025. This increase was primarily driven by the acquisition of 3,931 ETH from the conversion of stablecoins received by the Company from machine sales, with an additional 17 ETH received from sales-related inflows.
Overall, these results underscored the Company's disciplined treasury approach, active balance sheet management, and long-term belief in the value of digital assets as part of its corporate asset base. The year-end cryptocurrency positions mark a new historical high for Canaan, providing financial flexibility and a strong foundation for future initiatives.
December 2025 Bitcoin Mining Updates (unaudited)
| Key Metrics | Results (Rounded Numbers) |
| Bitcoins Mined During the Month | 86 BTC |
| Month-End Bitcoins and ETH Owned by Canaan Inc. on Balance Sheet1 | 1,750 BTC 3,951 ETH |
| Month-End Deployed Hashrate (EH/s) | 9.91 EH/s |
| Month-End Operating Hashrate (EH/s) | 7.65 EH/s |
| Month-End Average Revenue Split2 | 57.5 % |
| Average All-in Power Cost During the Month3 | US$0.043/kWh |
December 2025 Bitcoin Mining Infrastructure Updates (unaudited)
| North America | Non-North America | Global | |
| Month-End Average Miner Efficiency | 19.4 J/TH | 29.0 J/TH | 24.3 J/TH |
| Month-End Installed Power Capacity | 92.9 MW | 157.5 MW | 250.4 MW |