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Canaan Inc. Provides March 2025 Bitcoin Production and Mining Operation Updates

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SINGAPORE, April 10, 2025 /PRNewswire/ — Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), an innovator in crypto mining, today released its unaudited bitcoin mining update for the month ending March 31, 2025.

Management Commentary

“We continued to execute on our North American expansion plan, and our results demonstrate the successful relationships that we’ve built with our existing partners as well as our ability to find and negotiate favorable partnerships that are helping us to achieve our mining operations’ goals,” said Nangeng Zhang, chairman and chief executive officer of Canaan. “In March, we mined 90 bitcoins, representing an increase of 9.8% compared to February, and we expanded our mining operations in North America, adding 0.32 exahash per second (EH/s) of installed computing power. Additionally, through our recently announced agreements with Mawson and another partner for two projects in Pennsylvania and Texas, we will add another 4.7 EH/s of mining computing power in North America when these projects are fully energized.

Zhang continued, “Meanwhile, we continued to make advancements in our product innovation activities, bringing superior mining efficiency and user experience to our customers. We completed the tape-out process for our next-generation A16 mining machine and, as with previous generations, we will release the new product and provide sample units to our customers only after we finish full system testing so that we can provide the market with real-world data.

“We believe that we have made significant progress on our 2025 goals as we continue to scale our operations and optimize performance across our mining fleet.  With market conditions evolving rapidly, we remain focused on staying nimble—balancing efficiency, innovation, and strategic growth. Our commitment to deploying advanced hardware and securing meaningful partnerships makes us well-positioned to navigate the remainder of the year and to drive long-term shareholder value.”

March 2025 Bitcoin Mining Updates (unaudited)

Key Metrics

Results (Rounded Numbers)

Bitcoins Mined During the Month

90 Bitcoins

Month-End Bitcoins Owned by Canaan Inc. on Balance Sheet1

1,408 Bitcoins

Month-End Deployed Hashrate (EH/s)

6.60 EH/s

Month-End Operating Hashrate (EH/s)

5.97 EH/s

Month-End Average Revenue Split2

58.6 %

Average All-in Power Cost During the Month3

US$0.043/kWh

Notes:

1.       Defined as the total number of bitcoins owned by the Company on its Balance Sheet including any bitcoins receivable, excluding bitcoins that the Company has received as customer deposits.

2.       Defined as the weighted average percentage that Canaan would share from the total revenues generated according to the applicable joint mining arrangements if 100% of the mining machines consisting of Installed Computing Power (as defined below) were energized.

3.       Defined as the weighted average cost of power if 100% of the mining machines consisting of Installed Computing Power were energized.

 

Current Mining Projects (As of March 31, 2025) ：

Regions
in alphabetical order
(A to Z)

Active Mining
Projects
Count

Energized
Computing
Power4

Installed
Computing
Power5

Expected
Computing
Power6

Estimated
Total
Computing
Power7

Global

7

5.97 EH/s

6.60 EH/s

1.51 EH/s

8.11 EH/s

America

2

1.21 EH/s

1.51 EH/s

1.51 EH/s

3.02 EH/s

Canada

1

0.02 EH/s

0.02 EH/s

0 EH/s

0.02 EH/s

Ethiopia

2

4.12 EH/s

4.22 EH/s

0 EH/s

4.22 EH/s

Kazakhstan

1

0.60 EH/s

0.81 EH/s

0 EH/s

0.81 EH/s

Middle East

1

0.03 EH/s

0.04 EH/s

0 EH/s

0.04 EH/s

Notes:

4.       Defined as the amount of computing power that could theoretically be generated if all mining machines that have been energized are currently in operation including mining machines that may be temporarily offline.

5.       Defined as the sum of Energized Computing Power and computing power that has been installed but not yet energized, if any.

6.       Defined as the amount of computing power that has been delivered to the country where each mining project is located in but not yet installed.

7.       Defined as the sum of Installed Computing Power and Expected Computing Power.

 

Summary of Recent Operational Updates: 

Expansion and Updates of Self-Mining Operations:

Entered into a three-year master colocation agreement with Mawson Hosting LLC, an affiliate of Mawson Infrastructure Group Inc., for its facility in Midland, Pennsylvania, and a 24-month equipment hosting agreement with another partner for its facility in Edna, Texas, expected to add approximately 4.7EH/s of North American hashrate to Canaan’s self-mining computing power when these projects are fully energized.

Product Innovation:

Completed the taped-out process for its Avalon A16 series, Canaan’s next generation Bitcoin mining machine.  As with previous generations, Canaan will release real-world data and provide sample units to its customers when it completes its full system testing.

About Canaan Inc.

Established in 2013, Canaan Inc. (NASDAQ: CAN), is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. Canaan has extensive experience in chip design and streamlined production in the ASIC field. In 2013, Canaan’s founding team shipped to its customers the world’s first batch of mining machines incorporating ASIC technology in bitcoin‘s history under the brand name Avalon. In 2019, Canaan completed its initial public offering on the Nasdaq Global Market. To learn more about Canaan, please visit https://www.canaan.io/.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Canaan Inc.’s strategic and operational plans, contain forward-looking statements. Canaan Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Canaan Inc.’s beliefs and expectations, such as expectations with regard to mining hash rate deployment, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, the ability of the company to execute against its goals, financial condition and results of operations; the expected growth of the bitcoin industry and the price of bitcoin; the Company’s expectations regarding demand for and market acceptance of its products, especially its bitcoin mining machines; the Company’s expectations regarding maintaining and strengthening its relationships with production partners and customers; the Company’s investment plans and strategies, fluctuations in the Company’s quarterly operating results; competition in its industry; and relevant government policies and regulations relating to the Company and cryptocurrency. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Canaan Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact

Canaan Inc.
Xi Zhang
Email: IR@canaan-creative.com

ICR, LLC.
Robin Yang
Tel: +1 (347) 396-3281
Email: canaan.ir@icrinc.com

 

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SOURCE Canaan Inc.

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AndX Global Unveils Manila One, a First-of-Its-Kind Tokenized Land Development With Global Access

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October 29, 2026

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NEW YORK, Oct. 29, 2026 /PRNewswire/ — AndX Global today unveiled Manila One, a $100 million initiative that is the first to tokenize a large-scale, development-stage land project and open it to investors worldwide from day one.

Originated in the Philippines, structured through a U.S.-based investment framework and built for distribution to eligible investors globally, Manila One represents a new model for cross-border real estate investing. It combines a local asset, institutional structuring, global access and a path to liquidity.

Manila One applies tokenization where the most value is created, in the development of raw land, and opens it to investors around the world from the start.

“Tokenization without liquidity is simply digitized illiquidity,” said Viru Raparthi, CEO of AndX Global. “Manila One changes that model by giving global investors access at the development stage, while building toward real liquidity. This isn’t just about tokenizing real estate. It’s about creating a global market for real-world assets.”

Designed for global investors

Manila One is built to overcome the barriers that have kept private real estate closed to most investors: access, currency, minimums and exit.

Global access: open to eligible investors in more than 190 countries, subject to applicable lawUSD-denominated: priced and reported in U.S. dollarsLow minimum: tokens priced to ensure maximum participationDigital ownership: each token represents an economic interest in the development-stage project, with digital custody and blockchain-based recordkeepingBuilt for liquidity: designed for secondary trading on regulated AndX exchanges globally, so eligible holders can buy and sell their interests rather than stay locked into a multi-year private investment

Behind the offering is an end-to-end model that AndX intends to apply to other asset classes. It runs from origination through U.S. structuring, digital issuance, global distribution and custody to secondary trading. AndX Global provides the technology, tokenization, exchange, custody, payments and distribution infrastructure.

“The next generation of capital markets won’t be defined by geography,” Raparthi said. “It will be defined by access.”

The asset: 54 hectares, 5 km from Bonifacio Global City

The project centers on about 54 hectares of waterfront land roughly 5 kilometers from Bonifacio Global City (BGC), Metro Manila’s leading business district. Proceeds will fund horizontal development, including roads, utilities, drainage and other core infrastructure, to prepare the site for future residential, commercial and mixed-use construction. A later phase is planned to include affordable housing.

Manila One is sponsored by Jack Rodriguez, a Filipino entrepreneur and President of ARC Pacific Development, Inc., whose family story spans generations and two countries. His ancestry traces to passengers associated with the Mayflower and America’s earliest Pilgrim settlers, while his own roots remain deeply connected to the Philippines. Rodriguez sees the project as a bridge between the United States and the Philippines.

“Major development opportunities in the Philippines have mostly been available to a small circle of institutions, developers and wealthy families,” said Rodriguez. “Manila One opens that up, starting with Filipinos around the world and extending to investors everywhere who want a stake in transforming a major Philippine asset.”

The project is advised by Romel C. Cañete, widely regarded as one of the early visionaries behind Manhattan’s Hudson Yards transformation. Cañete evaluated developer bids for more than 40 million square feet of mixed-use development over the West Side rail yards — work that helped shape what became one of the most successful and consequential urban redevelopment projects in modern New York City.

“On Hudson Yards, the first question was whether the infrastructure could carry the vision,” said Cañete. “Manila One starts in the same place. What’s different is who gets in on the ground floor. It’s not just a handful of institutions anymore, but investors around the world.”

Offering at a glance

Offering size: $100 millionUnderlying asset: about 54 hectares of waterfront land near BGC, Metro ManilaIndicated land value: more than $200 million, per Cuervo Valuers & Advisory, Inc. (appraisal dated February 3, 2026)Term: three yearsPreferred return: 8% per year, simple and non-compounding (24% over the three-year term)Additional upside: 100% return on investment tied to appreciation of the underlying land, subject to offering termsEligible investors: retail and institutional, in more than 190 countriesOffering documents and eligibility: andx.ai/m1

About Manila One

Manila One is a tokenized real estate offering tied to the horizontal development of about 54 hectares of waterfront land near Bonifacio Global City in Metro Manila. ARC Pacific Development, Inc. is the sponsor, and AndX Global provides the tokenization and distribution infrastructure. Learn more at andx.ai/m1. 

About AndX Global

AndX Global is a financial technology company expanding global access to financial markets and real-world assets. Its infrastructure spans licensed digital-asset trading, payments, tokenization, custody and liquidity. Its mission is to let investors trade any asset, anywhere, anytime. Learn more at andx.ai. 

Important disclosure

This communication is for informational purposes only. It is not an offer to sell, or a solicitation of an offer to buy, any security or investment product. Any offering will be made only under applicable securities laws and through definitive offering documents containing material information about the investment, its risks and its terms. Investing involves risk, including possible loss of principal. The preferred return is not guaranteed. Statements about liquidity, secondary trading, returns, appreciation or future value are forward-looking and not guaranteed. Secondary trading, if available, will be subject to securities laws, regulatory approvals, transfer restrictions and the availability of an appropriate venue. Securities-related activities in the United States, where applicable, will be conducted through appropriately registered entities.

Media contacts

United States

Roxanne Rittberg

roxanne@andx.ai

+1 (561) 544-7172

Philippines

Mikel Cañete

mikel@andx.ai 

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SOURCE Andx Global

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Veridian Credit Union adds Allstate Identity Protection to free credit monitoring tool

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October 29, 2026

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New benefit gives members access to professional identity restoration support and monitoring tools

WATERLOO, Iowa, Oct. 29, 2026 /PRNewswire/ — Veridian Credit Union members now have complimentary access to Allstate Identity Protection through Credit Central, Veridian’s free credit monitoring tool within online banking.

The added support comes as identity theft is making a growing financial impact on U.S. consumers. Identity theft losses reached an all-time high of $27.3 billion in 2025, according to the 2026 Identity Fraud Study from Javelin Strategy & Research.

Veridian members who are enrolled in Credit Central and believe they are experiencing identity theft can now use identity fraud finder tools and work with a professional restoration specialist on monitoring high-risk transactions, dark web exposure and more. Monitoring for additional fraud continues for at least three months after a restoration case is resolved.

“Providing identity restoration support through a tool members already have access to is another way we can help them protect their financial lives and move forward with confidence,” said Mallory Paeper, Veridian’s manager of fraud and disputes. “Your financial well-being includes more than knowing your credit score. It also means having support when your personal information is compromised.”

The identity protection benefit expands the resources already available to Veridian members through Credit Central, Veridian’s free credit monitoring tool within online banking. Credit Central gives members access to their credit score and credit report, credit monitoring alerts and personalized tools designed to help them better understand and manage their credit. Credit Central is available to Veridian members within online banking at no cost, giving members easier access to credit information and identity protection as part of their everyday banking experience.

About Veridian Credit Union
Veridian Credit Union, founded in 1934 in Waterloo, Iowa, is a not-for-profit financial cooperative owned by the people who use its products and services – its members. Nationally recognized among the top credit unions in the U.S. for returning value, Veridian offers a full range of business and consumer financial services with 32 branches across Iowa, eastern Nebraska and the Minneapolis-St. Paul metro area. For details, visit veridiancu.org or call (800) 235-3228.

About Allstate Identity Protection
Allstate has been protecting what matters most for 90 years. Allstate Identity Protection provides identity restoration services and related support for users who experience identity fraud.

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SOURCE Veridian Credit Union

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SAJ Electric Honoured with EUPD Top Innovation Award at All-Energy

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October 29, 2026

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The EK70 HS5 Series and EK90 HS5 Series were recognised in the Storage category

MELBOURNE, Australia, Oct. 30, 2026 /PRNewswire/ — SAJ Electric has received the EUPD Research Top Innovation Australia 2026 award in the Storage category for its EK70 HS5 Series and EK90 HS5 Series all-in-one home energy storage systems. The award was presented on SAJ Electric’s stand at All-Energy Australia 2026 at the Melbourne Convention and Exhibition Centre.

EUPD Research recognises products for technology advancement, innovation uniqueness, environmental impact, market disruption and practical applicability.

The EK70 HS5 and EK90 HS5 combine a hybrid inverter, LFP battery storage and backup in one modular system. Blind-mate connectors and a wireless meter cut installation cabling, and three-step app commissioning speeds setup. A built-in 63A bypass delivers whole-home backup without a separate backup box, switching in 10 ms or less. An independent DC/DC battery optimiser supports flexible expansion, and the elekeeper 5.0 platform coordinates solar, storage, EV charging and household loads. Both are available in single-phase and three-phase.

The award headlined two busy days for SAJ Electric across Stand M143 and a dedicated Strongman booth at E01. SAJ Electric ran live product demonstrations, partner sessions with its three national distributors, and a public strength challenge against Bradman Houston, Australia’s Open-weight Strongest Man of 2026. Bradman’s lifts include a 380 kg deadlift, 340 kg squat and 180 kg overhead press.

Highlights

CEC certification: DEKRA and CCS presented Clean Energy Council certificates for the EK70 HS5 and EK90 HS5 on stand, making them the first products approved under Australia’s new SA TS 5398 battery safety standard.CEO roundtable: SAJ Electric Chairman and CEO Samil Ouyang and Smart Energy Council CEO David McElrea discussed the direction of Australia’s home battery market and how manufacturers can better support installers.Beat the Strongest Man: Booth E01 drew some of the biggest crowds of the show as visitors stepped up to the high striker against Bradman. Anyone who out-hit him took home a pair of Shokz headphones.Nine live demos: SAJ Electric’s technical team ran scheduled sessions across both days on residential storage, the elekeeper energy management platform, and commercial and industrial solutions.Distributors on board: One Stop Warehouse, Supply Partners and Tradezone showcased SAJ Electric products on their own stands, with SAJ Electric technical staff at each throughout.Media on stand: SAJ Electric hosted briefings, interviews and content capture with RenewEconomy, pv magazine, EcoGeneration, SunWiz, Solar Cutters, OpenSolar, Your Energy Media, Techmanpat and the Smart Energy Council, plus a booth tour and interview with Glenn Morris, founder of Smart Energy Lab, who recently installed and tested the EK70 HS5 on his YouTube channel.

The Strongman activation built on SAJ Electric’s ongoing work with Bradman, who earlier this year fronted an SAJ Electric video series with the Sydney Solar & Electrical crew on stretching, lifting technique and health tips for installers who move heavy batteries and panels every day.

SAJ Electric thanks every installer, partner and visitor who came by Stand M143 and the Strongman booth.

About SAJ Electric

Guangzhou Sanjing Electric Co., Ltd. (SAJ Electric) is a global manufacturer of solar inverters, energy storage systems and smart energy management solutions. In Australia, SAJ Electric products are available through One Stop Warehouse, Supply Partners and Tradezone. Learn more at au.saj-electric.com.

Media contact

Bella He
APAC & MENA Regional Head of Marketing
Guangzhou Sanjing Electric Co., Ltd.
No.9 Lizhishan Road, Guangzhou Science City, Guangdong, P.R. China 510663
Mobile: +86 188 2508 2693
www.saj-electric.com

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