Canaan(US:CAN) Prnewswire·2025-12-10 14:05Core Insights - Canaan Inc. reported a solid performance in November 2025, with an increase in both deployed and operating hashrate despite market challenges [1][2] - The company's cryptocurrency treasury reached a record of 1,730 BTC and 3,951 ETH by the end of November 2025 [1][3] - Canaan plans to bring approximately 1 EH/s of mining capacity online by the end of 2025, with further expansion expected in early 2026 [2][3] Operational Performance - Canaan mined 89 BTC in November 2025, maintaining a stable production level [2][3] - The month-end deployed hashrate was reported at 9.41 EH/s, while the operational hashrate stood at 8.12 EH/s [3][4] - The average revenue split for the month was 58.2%, and the average all-in power cost was US$0.043 per kWh [3][4] Strategic Developments - The company strategically acquired 100 BTC during price dips, enhancing its cryptocurrency treasury [2][3] - Canaan's North American fleet efficiency improved, with installed power capacity increasing to 91.2 MW [2][4] - A landmark strategic investment of US$72 million was announced from top-tier institutional investors, indicating strong confidence in Canaan's growth outlook [9] Product Innovations - Canaan unveiled its next-generation Avalon A16 series Bitcoin mining machines, featuring competitive specifications [10][11] - The A16XP model offers 300 TH/s of computing power with an energy efficiency of 12.8 J/TH [10][11] Financial Management - The company initiated a share repurchase program of up to US$30 million, with approximately 6.59 million ADSs repurchased for about US$4.9 million as of December 10, 2025 [12]