Canaan reported stable November Bitcoin mining performance alongside continued infrastructure expansion, producing 89 BTC and increasing deployed hashrate to 9.41 EH/s. The company also lifted its operating hashrate to 8.12 EH/s while maintaining competitive power costs at an average of $0.043 per kWh. Management said the North American fleet continued to improve in efficiency, with installed regional capacity reaching 91.2 MW by month end.
The company added 100 BTC during market pullbacks, bringing its total treasury to 1,730 BTC and 3,951 ETH. Canaan expects to energize roughly 1 EH/s of additional capacity by year end, with more hashrate scheduled to come online in early 2026. Recent efficiency metrics showed a global fleet average of 25.5 J/TH, reflecting ongoing optimization across mining sites in the Americas, Ethiopia, Malaysia, and the Middle East.
The operational update follows a $72 million strategic investment from institutional firms including Brevan Howard, Galaxy Digital, and Weiss Asset Management. The company also recently unveiled its next-generation Avalon A16 mining machines and continued its ongoing share repurchase program.
