Canaan Sells More Computing Power in Q1 2022, Expects Better Mining Market in Q2

May 22, 2022

Despite starting the year in "an increasingly unpredictable environment" due to macroeconomic uncertainties and logistic disruptions caused by the COVID-19 pandemic, China-based chip producer, Canaan, says it recorded an increase of 119.1% in total computing power sold in Q1 2022 as comp...

Canaan in Record Over 200% YoY 2021 Sales Increase

Mar 4, 2022

China-based chip producer, Canaan, has shown in its 2021 unaudited full-year financial results that it sold a total computing power of 22.3 million Thash/s which equates to a year-over-year increase of 238.5%. The huge leap from 2020’s 6.6 million Thash/s total sale - impacted by the global p...

Canaan, Bitmain Record More Miner Deployments to Lead Supply

Jan 6, 2022

Regardless of China's ban on crypto-related mining activities within its borders, top miner makers in the country continue their drive to meet market demands and sustain their operations. Canaan this week announced the deployment of another 8,000 Avalon Miner units for its joint mining opera...

China’s Crypto Mining ban Sets Stage for Bigger Global Power Capacities in 2022

Dec 17, 2021

The Block’s 2022 Digital Asset Outlook Report has attributed a setting of the stage for bigger global hash power capacities in the coming year to China’s crackdown on crypto mining activities within its borders this year.  The annual analysis points out that the Chinese government ban...

Canaan in Best Single Quarter, Kickstarts Joint Mining Operations in Kazakhstan

Nov 22, 2021

Following its reported revenue increase in Q3, Canaan says it has completed the successful delivery of over 2,000 Avalon miner units in Kazakhstan to kickstart its joint mining operations with its top three customers authorized by the Central Asia country’s Ministry of Energy. The supe...

ASIC Miner Maker Canaan Diversifies Into Crypto Mining

Jun 24, 2021

Renowned for having invented the world’s first application-specific integrated circuit (ASIC)-powered Bitcoin mining machine, Canaan has announced its business' first diversification attempt into crypto mining in Kazakhstan with their latest Avalon Miner units already in operation. The m...

Genesis Launches Mining Partnership, Buys US$93.6 mln of Canaan’s AvalonMiner 

Apr 30, 2021

After five founders partnered to launch Genesis Digital Assets as a brand that seeks to build and manage industrial-scale Bitcoin mining operations, the company placed orders worth US$93.63 mln with the second largest designer and manufacturer of Bitcoin mining machines globally, Canaan, to...

China’s Code Chain Takes HQ, Crypto Mining to Dubai

Apr 23, 2021

The move by China’s Code Chain to meet the demands of its mission of cryptocurrency expansion is taking the company to the United Arab Emirates (UAE), its recently-appointed Chief Strategy Officer, Ryan Xu, has confirmed. He said they have decided to move their head office to Duba...

SOS Beats Q1 Crypto Mining Operation Target, Progresses in US Market Entry Move

Apr 15, 2021

One of China’s newest crypto mining players, SOS Limited, continues its inroad into the US market after a fraud allegation episode with the news of surpassing its projected mining operations target for Q1 2021.  The emerging blockchain-based and big data-driven marketing solution provide...

More Miners on Order as Data Again Suggests Less Concentrated Bitcoin Ownership 

Feb 3, 2021

A top online sports lottery service provider in China which recently agreed to accept Bitcoin or USD for the issuance and sales of its company’s newly-issued Class A ordinary shares has hinted on its developing blockchain-related business with a planned purchase of up to 15,900 Bitcoin min...