Home / Business and Economy / Canaan Expands Hashrate, Secures $72M Investment
Canaan Expands Hashrate, Secures $72M Investment
12 Dec
Summary
- Canaan mined 89 bitcoin in November, increasing treasury to 1,730 BTC.
- Company secured $72 million in strategic investment from top firms.
- New Avalon A16 series miners offer advanced computing power and efficiency.
Canaan reported mining 89 bitcoin in November, increasing its total treasury to 1,730 BTC alongside 3,951 ETH through spot purchases and production. The company achieved a deployed hashrate of 9.41 EH/s and an operating hashrate of 8.12 EH/s, with a significant portion of its power capacity in North America.
This operational progress was bolstered by a $72 million strategic investment from Brevan Howard, Galaxy Digital, and Weiss Asset Management, aimed at supporting infrastructure and strengthening the balance sheet. Canaan also continued its share repurchase program, buying back ADSs for $4.9 million.
In hardware innovation, Canaan launched the Avalon A16 series ASIC miner in late October. This series includes the A16XP model, boasting 300 TH/s computing power and exceptional energy efficiency, with units now shipping globally from production centers in North America and Asia. Future hashrate expansion is planned through 2026.
