Canaan mines 88 bitcoin in June

Canaan (CAN) released its unaudited bitcoin mining update for the month ending June 30, 2025. “Our June production numbers demonstrated the resilience of our mining operations,” said Nangeng Zhang, chairman and chief executive officer of Canaan, “Following a record-breaking May, June production totaled 88 bitcoins, primarily due to a temporary reduction in operating hashrate. The decrease was primarily due to reduced uptime from weather-related curtailment and maintenance. During the month, certain areas of Texas were impacted by both severe storms and continuous high temperatures, resulting in our hosting partner shutting down some machines for site safety as well as site maintenance. In Ethiopia, our 100% green mining activities had a lower uptime due to seasonal drought-related national electricity restrictions.”