The Singapore-based computing firm mined 44 BTC throughout August, maintaining a non-JV installed hashrate of 10.05 EH/s. While the company liquidated 3,952 ETH and 54 BTC at average prices of $2,400 and $79,000 respectively, it retains a reserve of 1,868 BTC. Chairman and CEO Nangeng Zhang noted that the move reflects a strategy of active capital allocation aimed at enhancing long-term shareholder value rather than simply hoarding digital assets.
Operational expansion continues in North America, specifically at a compute heat recovery greenhouse project in Canada. Equipment installation is currently underway, timed to support heating needs during the upcoming winter season. Globally, Canaan’s mining infrastructure remains diversified, with active projects spanning Ethiopia, Malaysia, and the Middle East, though operations in Ethiopia are currently paused. The company's total hashrate across all regions reached 14.96 EH/s at the end of August, supported by an average all-in power cost of $0.043/kWh.
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