Canaan Technology's mining revenue reached $28.1 million in Q2 2025, and its Bitcoin reserves rose to 1,483.5

Canaan Inc. (Canaan Technology) announced its unaudited financial results for the second quarter of 2025, reporting total revenue of $100.2 million, a year-on-year increase of 39.5%. Bitcoin mining revenue reached $28.1 million, a year-on-year increase of 201.6%. Bitcoin reserves rose to 1,483.5 at the end of the quarter and further increased to 1,511 by the end of July. The company announced a strategic restructuring to focus on Bitcoin mining machine sales and its own mining operations, and has discontinued its AI chip business. Management recently increased its holdings of the company's ADSs, and the board of directors approved a repurchase plan of up to $30 million.