Canaan Expands Global Mining Capacity to 266.3 MW with Record 1,808 BTC Treasury
Company expanded North American capacity by over 10 MW in March, raising global installed power to 266.3 MW and boosting miner efficiency to 18.7 J/TH while maintaining an average power cost of US$0.044/kWh. It mined 89 BTC, lifting its crypto treasury to a record 1,808 BTC and 3,952 ETH as it moves toward energy-integrated computing.
1. March Mining Performance and Record Treasury
In March Canaan mined 89 BTC, increasing its cryptocurrency holdings to 1,808 BTC and 3,952 ETH, marking the highest treasury levels in company history.
2. Infrastructure Expansion and Efficiency Gains
The company added over 10 MW of North American capacity, bringing global installed power to 266.3 MW, improved average miner efficiency to 18.7 J/TH in North America and maintained an average all-in power cost of US$0.044/kWh.
3. West Texas JV Acquisition Details
Canaan completed a non-cash equity transaction valued at US$39.75 million to acquire a 49% stake in West Texas joint ventures, adding 4.4 EH/s of hashrate capacity and 6,840 Avalon® A15Pro miners to its U.S. footprint.
4. Management Purchases and Strategic Outlook
Executive confidence was reinforced as CEO Nangeng Zhang and CFO Jin Cheng purchased 1,456,547 ADS at an average price of US$0.51, while the new Canada gas-to-compute project and energy optimization initiatives underline a shift toward integrated energy-compute infrastructure.