Ted Hisokawa
Oct 10, 2025 14:18
Canaan Inc. achieved a new high in Bitcoin mining efficiency, expanded its mining fleet, and secured a major U.S. order for its Avalon A15 Pro miners.
Canaan Inc. (NASDAQ: CAN), a leading innovator in cryptocurrency mining, has reported a significant increase in mining efficiency and operational advancements for September 2025. The company noted a record high in its deployed hashrate, reaching 9.30 EH/s, and an increase in its cryptocurrency treasury to 1,582 BTC and 2,830 ETH, according to PR Newswire.
Mining Efficiency and Expansion
Under the leadership of CEO Nangeng Zhang, Canaan has continued to optimize its mining operations. The deployment of next-generation bitcoin mining machines has enhanced efficiency in North America to 19.7 J/TH. This strategic move is part of Canaan’s broader commitment to operational excellence and energy performance. During September, the company mined 92 bitcoins and expanded its self-mining fleet significantly, especially across its U.S. and African sites.
Moreover, Canaan has made strides in renewable energy utilization through a new partnership with Soluna Holdings in Texas. This collaboration aims to deploy 20 MW of Avalon A15 XP Bitcoin miners at a wind-powered data center, marking a significant step towards sustainable mining practices.
Strategic Partnerships and Orders
In a landmark development, Canaan secured a purchase order from a U.S.-based bitcoin mining operator for over 50,000 Avalon A15 Pro miners. This order, the largest in three years, underscores Canaan’s technological leadership and the recovering strength of the U.S. bitcoin mining sector. Scheduled for delivery in Q4 2025, this agreement highlights the market’s confidence in Canaan’s capabilities and its commitment to fostering long-term partnerships.
Infrastructure and Global Operations
Canaan’s global operations have been bolstered by an increase in computing power, with a total installed capacity of 230.2 MW across its sites. The company operates eight active mining projects worldwide, with substantial operations in America, Canada, Ethiopia, the Middle East, and Malaysia. These operations contribute to a global estimated total computing power of 10.31 EH/s.
As Canaan continues to scale its operations globally, it remains focused on innovation and sustainability. The company’s efforts to enhance efficiency and leverage renewable energy resources are pivotal to its growth strategy and long-term value creation for stakeholders.
Future Outlook
Looking ahead, Canaan is poised to continue its expansion and innovation in the cryptocurrency mining sector. The strategic partnerships and technological advancements underscore its position as a leader in the industry. As it scales its operations, Canaan’s commitment to sustainability and efficiency will be crucial in navigating the evolving landscape of cryptocurrency mining.
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