Canaan mines 62 bitcoins in December

Canaan (CAN) released its unaudited bitcoin mining update for the month ending December 31, 2024. The company said, “Since the beginning of the fourth quarter of 2024, we have made considerable progress in expanding our market presence, strengthening partnerships and advancing our self-mining operations, while steadily increasing our bitcoin holdings on our balance sheet,” said Nangeng Zhang, chairman and chief executive officer of Canaan. “We made significant strides in North America, establishing a new localized team to explore partnerships and opportunities, and to implement new projects. Our goal remains on track to reach 10 Exahash per second of mining hash rate in North America and 15 EH/s in total globally by mid-2025.”