Canvaly Releases 2025 Financial Report: Revenue and Hashrate Both Double, Deleveraging and AI Transformation Drive Growth Curve

BlockBeats News, March 23, According to official sources, Canaan Inc., a US-listed mining company (NYSE: CANG), released its fourth-quarter and full-year 2025 performance, demonstrating steady growth in its first year of transition. The total annual revenue reached $688 million, with 6,594.6 bitcoins mined; of which the fourth-quarter revenue was $179 million, with 1,718.3 bitcoins mined. The company achieved positive EBITDA for the full year, and its core mining business maintained healthy operations, with an average effective hash rate of 90.3%. The net loss in the financial report is mainly due to non-recurring and non-cash items, including one-time book losses from the divestiture of its China business, as well as a reevaluation of the equity consideration for acquisitions due to stock price increases, which does not reflect a deterioration of its core business.

In terms of financial strategy, Canaan actively promoted "de-leveraging" operations to strengthen its balance sheet. In February, the company strategically sold 4,451 bitcoins, raising approximately $305 million in cash, which was fully used to repay its bitcoin mortgage loan, significantly reducing financial risks and improving liquidity. At the same time, the company is expected to receive a total of approximately $75.5 million in additional capital injection, including completed shareholder capital increases and funding support from the chairman and directors, demonstrating strong confidence from management and core shareholders in the company's long-term development.

On the business transformation front, Canaan is accelerating its layout of AI hash rate infrastructure to create a "second growth curve." The company has established a wholly-owned subsidiary, EcoHash Technology LLC, in Dallas, Texas, focusing on high-performance computing and AI inference business, and has appointed former Zoom infrastructure chief Jack Jin as the AI business CTO. Currently, the company is focusing on the "long-tail inference market," with its modular GPU hash rate unit entering the deliverable stage, the demo project achieving breakeven, and the business model receiving initial validation. In the future, Canaan plans to transition from a single mining operator to an "ecosystem enabler," driving global small and medium-sized mining farms to upgrade to distributed AI hash rate nodes.