Canaan Technology’s first-quarter 2025 financial results show significant growth, exceeding expectations and reaching a total revenue of $82.78 million. This surpasses the forecasted $75 million figure, reflecting a remarkable 135.9% year-over-year increase. The report highlights Canaan’s impressive sales computing power, which reached 5.5 million TH/s in the first quarter, a substantial 62.6% jump compared to the same period last year. Despite overall market fluctuations, Canaan achieved record mining revenue of $24.25 million during this period, indicating a 58.6% increase from the previous quarter and a staggering 131.9% surge year-over-year. This resulted in a total of 259 Bitcoins mined, with an average revenue of $93,466 per Bitcoin. Canaan’s holdings of cryptocurrency assets and receivables stand at $125.9 million as of March 31, 2025.