Canaan released its bitcoin mining and operating figures for August, reporting that it mined 44 BTC during the month. The company said its month-end computing power for non-joint-venture projects held at 10.05 EH/s, while installed computing power for joint-venture projects rose to 4.92 EH/s. Average all-in power cost in August came to $0.043 per kilowatt-hour.
By the end of the month, Canaan held 1,868 BTC and no longer held any ETH. The company said it sold all 3,952 ETH and 54 BTC in late August at average prices of about $2,400 and $79,000, generating roughly $13.9 million in cash. It then used $5.4 million of that amount to repurchase about 13.6 million ADS, bringing total buybacks since the start of the year to about 16.4 million ADS.
Canaan also said computing equipment for its waste-heat greenhouse project in Canada has arrived on site and installation has begun. The company plans to put the project into operation before the winter heating season and said it will keep allocating capital across bitcoin mining, digital asset management, and energy-efficiency projects.
Canaan released its bitcoin mining and operating data for August, saying it mined 44 BTC during the month. Month-end computing power for its non-joint-venture projects was 10.05 EH/s, while installed computing power for joint-venture projects increased to 4.92 EH/s. Its average all-in power cost in August was $0.043 per kilowatt-hour.
As of the end of August, the company held 1,868 BTC and no longer held any ETH. Canaan said it sold all 3,952 ETH and 54 BTC in late August at average prices of about $2,400 and $79,000, respectively, for total cash proceeds of about $13.9 million.
The company then used $5.4 million of that amount to repurchase about 13.6 million American depositary shares, or ADS. Since the beginning of the year, its cumulative repurchases have reached about 16.4 million ADS.
Separately, Canaan said computing equipment for its waste-heat recovery greenhouse project in Canada has arrived on site and installation is now underway. The company plans to have the project running before the winter heating season and said it will continue allocating capital through bitcoin mining, digital asset management, and energy-efficiency projects.
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