Canaan Surpasses Record High in Digital Asset Holdings Amid Industry Sell-Off
Canaan, a prominent Bitcoin miner and manufacturer of mining equipment, has reported its highest-ever digital asset holdings. In February, the company produced 86 Bitcoin, bringing its total Bitcoin reserves to 1,793 coins. This milestone surpasses Canaan's previous record.
The company's Ethereum reserves also reached an all-time high of 3,952 Ethereum. At current prices, Canaan's combined digital asset treasury is worth approximately $128 million.
Canaan Chairman and CEO Nangeng Zhang emphasized the importance of building a long-term digital asset reserve, stating, 'We maintain a long-term perspective on building and managing our digital asset treasury.'
The company has continued to expand its operational capacity, increasing its installed hash rate to 14.75 exahashes per second. Canaan also acquired a 49% stake in three Bitcoin mining projects in West Texas for $39.75 million.