Canaan Delivers 90 BTC in May, Efficiency Up to 17.9 J/TH
CAN•Canaan’s self-mining operations delivered 90 BTC in May plus 24 BTC from customer payments, raising its treasury to 1,867 BTC and 3,952 ETH. The company ended May with 10.05 EH/s installed hashrate, saw North American efficiency rise 11% to 17.9 J/TH and global efficiency rise 13.5% to 23.7 J/TH.
1. May Bitcoin Production and Treasury Growth
In May, Canaan’s self-mining operations produced 90 BTC and earned an additional 24 BTC from customer payments. By month-end, the company held 1,867 BTC and 3,952 ETH on its balance sheet, marking a record high in its cryptocurrency treasury.
2. Hashrate and Efficiency Improvements
Canaan reported an installed computing power of 10.05 EH/s and an operating hashrate of 6.47 EH/s. The North American self-mining fleet achieved a best-ever average of 17.9 J/TH, up 11% year-over-year, while global average efficiency improved 13.5% to 23.7 J/TH at a $0.043/kWh all-in power cost.
3. Joint Venture and Infrastructure Expansion
Joint venture facilities generated approximately 45 BTC despite wildfire-related disruptions at the Alborz site, which is expected to return to full capacity within a week. Canaan also expanded its hash-to-heat deployment in the Nordic region to 8 MW using Avalon A1566HA units following a successful 2 MW pilot, demonstrating new heat recovery applications.
