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SINGAPORE - Canaan Inc. (NASDAQ:CAN), currently valued at $351 million, mined 98 bitcoins in August 2025, representing a 10% increase from July, according to a company press release issued Monday. InvestingPro analysis indicates the stock is currently undervalued, with additional metrics showing strong liquidity position despite market volatility.
The crypto mining firm reported its month-end deployed hashrate reached 8.6 exahashes per second (EH/s), with operating hashrate at 7.5 EH/s. The company’s bitcoin treasury grew to 1,547 bitcoins as of August 31. With a healthy current ratio of 1.78, InvestingPro data shows Canaan maintains strong short-term liquidity, though its gross profit margins remain under pressure.
Canaan achieved a significant efficiency milestone in its North American operations, reducing average miner performance to below 20 joules per terahash (J/TH) for the first time. The company maintained an average power cost of $0.042/kWh across its global operations during August.
"We expanded our deployed hashrate by significantly scaling operations in the U.S., adding our first mining project in Southeast Asia, and making steady progress in growing mining hashrate in Ethiopia," said Nangeng Zhang, chairman and CEO of Canaan.
The company currently operates eight active mining projects across multiple regions including America, Canada, Ethiopia, the Middle East, and Malaysia. Canaan estimates its total computing power, including installed and expected capacity, exceeds 10 EH/s globally. With a beta of 3.45 and projected revenue growth of 70% for FY2025, InvestingPro subscribers can access 8 additional key insights and a comprehensive Pro Research Report about this volatile crypto mining stock.
In recent corporate developments, Canaan announced a collaboration with Bitfury to enhance up to 10MW of existing mining capacity at Bitfury’s North American facility using Canaan’s Avalon ASIC technology. The company also partnered with Luxor Technology Corporation to provide financing solutions for customers acquiring Avalon mining machines.
Canaan noted that following its exit from a "less efficient hosting site in South Texas in July," the redeployment of previously offline miners is underway, with some already brought back online in August.
The information in this article is based on a press release statement from Canaan Inc.
In other recent news, Canaan Inc. reported its Q2 2025 earnings, which revealed a significant revenue miss but an unexpected earnings per share (EPS) result. The company posted an EPS of -1.02, which was much lower than the forecasted -0.04, resulting in a 2450% surprise. Revenue came in at $71.86 million, falling short of the $109.45 million forecast, a 34.34% miss. Additionally, Canaan Inc. has partnered with Luxor Technology Corporation to provide financing solutions for customers purchasing Avalon bitcoin mining machines. This partnership has already led to the sale of more than 5,000 Avalon A15 Pro bitcoin mining machines to a U.S.-based institutional bitcoin miner in August. These developments highlight ongoing challenges and strategic moves by Canaan Inc. to navigate the current market landscape.
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