Canaan grows treasury to 1,730 BTC in November

Canaan (NASDAQ: CAN) reported mining 89 bitcoin successful November and expanding its bitcoin treasury to 1,730 BTC.

The institution besides disclosed a deployed hashrate of 9.41 EH/s and an operating hashrate of 8.12 EH/s for the play ending November 30, with a full installed powerfulness capableness of 235 MW.

The North American portion accounted for 91.2 MW of this capacity, with Canaan’s North America operations achieving an mean miner ratio of 19.5 J/TH past month. Canaan reported an mean all-in powerfulness outgo for the period of $0.043/kWh.

Nangeng Zhang, the president and CEO of Canaan, stated, “Navigating a dynamic marketplace environment, we remained focused connected ratio and performance, delivering unchangeable accumulation of 89 BTC, portion increasing our deployed hashrate to 9.41 EH/s and our operational hashrate to 8.12 EH/s by month-end.”

Canaan expanded its bitcoin treasury with spot purchases arsenic good arsenic its mining accumulation successful November. Canaan acquired 100 BTC during terms dips past month, bringing its full crypto holdings to 1,730 BTC alongside 3,951 ETH.

Looking ahead, Caanan plans to bring astir 1 EH/s of further capableness online by the extremity of 2025, with Canaan targeting further hashrate energization successful the archetypal 4th of 2026.

On the firm front, Canaan announced a $72 cardinal strategical concern connected November 4 from Brevan Howard, Galaxy Digital, and Weiss Asset Management.

This transaction progressive an equity placement of implicit 63.6 cardinal American Depositary Shares astatine $1.131 per share. Canaan said that it volition usage proceeds to enactment infrastructure projects and to fortify its equilibrium sheet.

The institution besides provided an update connected its stock repurchase programme initially announced successful May 2025. As of Wednesday, Canaan bought backmost astir 6.59 cardinal ADSs for a full of $4.9 million. The programme allows for repurchases up to $30 cardinal implicit a six-month period.

In hardware developments, the steadfast launched the Avalon A16 bid ASIC miner successful precocious October.

This bid features the A16XP model, which offers 300 TH/s of computing powerfulness and vigor ratio of 12.8 J/TH. Canaan is presently shipping the exemplary from accumulation centers successful North America and Asia.