Canaan Technologies (NASDAQ: CAN, "Canaan" or "the Company") today announced its unaudited financial results for the three months ended June 30, 2025, reporting that the company recorded its strongest unaudited results in the past ten quarters for the three months ended June 30, 2025, with total revenue reaching $100.20 million, exceeding the company's previous guidance and growing 39.5% year over year.
Total power sold was 6.40 million terahash per second (TH/s), up 16.5% sequentially and 3.0% year-on-year. Mining revenue hit a record high of $28.1 million, up 201.6% year-on-year. A total of 284 bitcoins were mined, and the average revenue per bitcoin was $98,866. Gross profit jumped to $9.3 million, compared to a gross loss of $19.1 million in the same period last year.
By the end of the quarter, bitcoin reserves had expanded to 1,483.5 coins, and further increased to 1,511 coins by the end of July 2025.
Canaan Technology Announces Unaudited Financial Results for Q2 2025: Bitcoin Reserves Expand to 1,483.5, Mining Revenue Reaches $28.1 Million
2025-08-15 02:00:08
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