1 Safe Harbor Statement Operating & Financial Results Third Quarter 2025 November 18, 2025 Chairman & CEO CFO Nangeng Zhang Jin "James" Cheng Best Quarter in Current Bitcoin Cycle BTC Price and Global Network Hashrate in Q3 This presentation contains certain financial measures that are not recognized under generally accepted accounting principles in the United States ("GAAP"), including adjusted EBITDA (including adjusted EBITDA margin), non-GAAP net income, non-GAAP diluted earnings per share/ADS and cash ...

Core Insights - Canaan Inc. achieved a historic high in deployed hashrate of 9.30 EH/s and recorded a cryptocurrency treasury of 1,582 BTC and 2,830 ETH as of September 30, 2025 [1][2][3] Group 1: Mining Performance - The company mined 92 bitcoins in September 2025, with an average all-in power cost of US$0.042/kWh [2][3] - The month-end operating hashrate was 7.84 EH/s, with North American efficiency improved to 19.7 J/TH [2][3] - Canaan's global average miner efficiency stood at 25.7 J/TH, with North America at 19.7 J/TH and non-North America at 29.3 J/TH [3] Group 2: Strategic Partnerships and Orders - Canaan formed a partnership with Soluna Holdings to deploy 20 MW of Avalon A15 XP Bitcoin miners at a wind-powered data center in Texas, expected to be operational in Q1 2026 [7] - The company secured a landmark purchase order for over 50,000 Avalon A15 Pro miners, marking its largest single order in three years, scheduled for delivery in Q4 2025 [8] Group 3: Financial Metrics - The company ended September 2025 with a total of 1,582 bitcoins and 2,830 ETH, reflecting a disciplined accumulation strategy [2][3] - The month-end average revenue split was 57.7%, indicating a strong revenue generation capability [3]