Canaan mines 109 bitcoin in May

“In May 2025, despite the 10% increase in tariffs on our Malaysia-made Bitcoin mining machines due to ongoing U.S. trade uncertainties, we remained focused on executing our strategic priorities with discipline and agility,” said Nangeng Zhang, chairman and chief executive officer of Canaan (CAN). “By capitalizing on the favorable momentum in bitcoin prices, we achieved a 25% month-over-month increase in our bitcoin production, reaching a record 109 bitcoins. This performance marks a new monthly high for our mining production and brings our total cryptocurrency holdings to an all-time high of 1,466 bitcoins at month-end.”