Canaan mined 243 BTC in Q2, holdings reach record 1,915 BTC

Nasdaq-listed Bitcoin mining machine maker Canaan said on Sept. 8 it mined 243 BTC in the second quarter, according to an official company channel. As of the end of the quarter, Canaan held 1,915.5 BTC and 3,951.7 ETH, marking a record high for its cryptocurrency holdings. Over the same period, total revenue came to about $31.9 million, including $13.6 million from product revenue and $17.7 million from mining revenue. Canaan also spent about $7.4 million under its share repurchase program to buy back 16.4 million ADSs as of Sept. 8. The company said it plans to sell part of its crypto holdings to help fund additional share repurchases while expanding its computing and energy infrastructure business.