Canaan Inc. released its unaudited Bitcoin mining operating data for August, according to PR Newswire. The company said it mined 44 BTC during the month and held 1,868 BTC on its balance sheet at the end of August. It also said its ETH position had been fully liquidated.
At the end of August, Canaan sold all 3,952 ETH and 54 BTC at average prices of about $2,400 and $79,000, generating roughly $13.9 million in cash proceeds. The company used about $5.4 million of that amount to repurchase around 13.6 million ADS, bringing its total ADS buybacks for the year to about 16.4 million shares.
On the mining side, Canaan reported installed computing power of 10.05 EH/s at its non-joint-venture mining sites and 4.92 EH/s at joint venture, or JV, sites. Its blended power cost for the month was about $0.043 per kilowatt-hour.
Canaan Inc. (CAN) released its unaudited Bitcoin mining operating data for August, according to PR Newswire.
The company said it mined 44 BTC in August. As of the end of the month, it held 1,868 BTC on its balance sheet, while its ETH holdings had been fully cleared.
At the end of August, Canaan sold all 3,952 ETH and 54 BTC at average prices of about $2,400 and $79,000, respectively. The sales generated about $13.9 million in total cash proceeds.
Canaan said about $5.4 million of that amount was used to repurchase roughly 13.6 million American depositary shares, or ADS. Its cumulative buybacks for the year reached about 16.4 million ADS.
For mining operations, installed hashrate at its non-joint-venture sites stood at 10.05 EH/s, while joint venture, or JV, mining sites had 4.92 EH/s installed hashrate. The company’s blended power cost for the month was about $0.043 per kilowatt-hour.
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