Canaan Mining Update: 42 % Bitcoin production jump, retailers 6.43 EH/S in January

Singaporeand February 19, 2025 / PRNEWSWIRE/ – Canaan Inc. (NASDAQ: Can) (“Canaan” or “The Company”), creator Encryption Mining, issued today not mentioned Bitcoin Update mining for the month ending January 31, 2025.

Administrative comment

“In January, we made strong progress in all our business sectors, where we expanded our customer base, I announced two home consumer products in Avalon, and we presented our self -capacity, which led to an increase in us Bitcoin Nanging Chang, Chairman and CEO of Canaan, said. we AVANON A15XP Customer Customer. In addition, we have expanded the joint mining agreement with Luna Square from 30 megawatts to 36 MW, and so far, we have activated 1,704 A14 Series Miners, with more online expectation Texas In the first quarter. Continuously, we increased the number of bitcoin currencies that we took advantage of, and mining 88 bitcoins in January compared to 62 in December. We have also increased the global retail fragmentation that was published at the end of the month 18.2 %From 5.44 EH/S to 6.43 EH/S, and we have improved the average revenue at the end of the month from our revenues divided from the month 53.7 % to 57.3 % While maintaining the very competitive renal energy cost 4 cents/Kilowatt hours. We stay on the right path to reach 10 EH/s in north america And 15 EH/s worldwide by mid -2015.

“In Ces in Las VegasWe launched two leading Avalon Home products: 37.5 th/s avalon mini 3 and 6 th/s nano 3s. Avalon Mini 3 is a smart space heater that controls the application BitcoinIt features an elegant and calm process design. Avalon Nano 3S 140 Watt, which is an upgrade version of the original Nano 3, is characterized by a compressed and mobile design, and about a 50 % An increase in computing power of its predecessor. Since their launch, both producers have received many positive reviews and are available to pre -order on our website. “

January 2025 Bitcoin Mining updates (non -abstract)

Notes:

1. It is defined as the total number of the company’s budgets owned in its public budget, including any Coded The dues, excluding the bitcoin currencies that the company received as deposits of customers.
2. It was defined as the most likely percentage that Canaan will share with the total revenue resulting according to the joint mining arrangements in force if 100 % One of the mining machines that consists of the installed computing power (as shown below) was activated.
3. It is defined as the average cost of the most likely energy if 100 % One of the installed mining machines has been activated.

Notes:

4. It is defined as the amount of computing energy that can be created theoretically if all of the spinning machines that have been currently operating are currently operating, including mining machines that may be temporarily incompatible.
5. It is defined as the sum of active computing power and the powerful computing power but has not yet been activated, if any.
6. It is defined as the amount of computing energy that was delivered to the country where every mining project is located, but it has not yet been installed.
7. It is defined as the sum of the installed computing power and the expected power of computing.
8. The company expects to bring approximately 0.42 EH/s computing power in mining in Ethiopia The project cooperation also ends in early February 2025.

Summary of the recent operating updates:

• Expansion of self -mining operations:
  • It has entered the joint mining agreement with Luna Fancares Texas LLC. The company obtained another 6 megawatts from the mining process in Pecos, TexasWith Luna Fquares Texas LLC, in addition to the current 30 -megawatt site in Willow Wales, Texas.
  • January came out with about 0.27eh/s from mining machines, or 1,704 A14 Series Miners, active in Picos location. The company expects to publish more mines in Texas In the first quarter.
  • I completed the upgrade of the previously announced mining device at the Panther Creek facility in Stronghold in January. Six thousand mining machines of the Avalon A14 series were installed on the site to replace the older Avalon models, which led to the total computing energy on the site by 26 %From 0.74 EH/S to 0.93 EH/S, each platform with a medium is likely from 154 EH/s The company expects a reflection of this mining platform upgrade in the mining operations in February 2025.
• Product innovation:
  • Avalon Mini 3 and NANO 3S introduction Bitcoin Mining heaters for home use in CES 2025. The two innovative devices combine efficiency Bitcoin Mining with home heating solutions to give a democratic character Coded Mining for individuals.

About Canaan Inc.

Founded in 2013, Canaan Inc. (NASDAQ: Can) is a technology company that focuses on it Asik High -performance computing chips design, chip research and development, production of computing equipment, and software services. Canaan has extensive experience in the design of chips and simple production in Asik area. In 2013, the founding Canaan team for its customers was shipped, the first group of mining machines in the world to include Asik Technology in BitcoinHistory under the name of the brand Avalon. In 2019, Canaan completed her initial general offer in the Nasdak Global Market. To learn more about Canaan, please visit https://www.canaan.io/.

A safe port statement

This press statement contains phrases forward. This data is made under the provisions of “Safe Harbour” from we The 1995 Securities Reform Law for 1995. These data with anterior appearance can be identified through terms such as “Will”, “expects”, “expectation”, “the future”, “plans”, “think”, “,” “” Estimates, “” “and similar data. It is also possible we Securities and Stock Exchange Committee (“SEC” in models 20 – F and 6 – K, in its annual report for shareholders, in press data and other written materials and in the oral data made by its employees, managers, or employees to third parties. Data that are not historical facts, including data on the beliefs and expectations of Canaan Inc. expectations. , Like expectations regarding the deployment of mining seizure, they are data forward. Front appearance data includes rooted risks and doubts. A number of factors can cause actual results financially from those mentioned in any statement looking forward, including but not limited to the following: the company’s goals and strategies; Developing the company’s business in the future, the company’s ability to implement against its goals, the financial situation and the results of operations; Expected growth from Bitcoin Industry and price Bitcoin; The company’s expectations regarding demand for its products and acceptance in the market, especially them Bitcoin Mining machines company expectations regarding maintaining their relationships and strengthening them with production partners and customers; The company’s investment plans and strategies, fluctuations in the company’s quarterly operating results; Competition in its manufacture; And government policies and regulations related to the company Coded. More information related to these risks and others is included in the company’s files with SEC. All information provided in this press statement and in attachments is from the date of this press statement, and the company can not take over. Any commitment to updating any phrase aspiring forward, except for what is required under the applicable law.

Investor relationships

Canaan Inc.
Shi Chang
Email: Ir@canaan-creative.com

ICR, LLC.
Robin Yang
Phone: +1 (347) 396-3281
Email: canaan.ir@icrink.com

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Source Canaan Inc.