![What Is Asset Tokenization? Types, Why It Matters Now [2025]](https://coininsights.com/wp-content/uploads/2025/05/asset_tokenization-360x180.png)
Canaan Inc. reported $269.3 million in revenue for 2024, with bitcoin mining revenue surging 312% year-over-year to $44 million. The company also expanded its North American mining footprint, securing new agreements in Pennsylvania and Texas to add 4.7 EH/s of computing power.
Canaan Reports $269M in Revenue
Canaan Inc., a crypto mining hardware manufacturer, has released its financial results for 2024, showcasing strong growth in both revenue and bitcoin mining. The company generated $269.3 million in total revenue, a 27.4% increase from 2023, with bitcoin mining contributing $44 million. The firm now holds 1,292.5 BTC, further strengthening its crypto reserves.
In the 4th quarter alone, Canaan earned $88.8 million, marking an 80.9% year-on-year jump. Mining revenue surged 312.5% to $15.3 million, with 186 BTC mined at an average price of $82,174. The company also set a record high in computing power sales, reaching 9.1 million TH/s.
Nangeng Zhang, Chairman and CEO of Canaan, said, “Looking back on the past year, we remained steadfast in our commitment to delivering high-quality, customized mining solutions such as our high-performance A15 series. With unwavering confidence in bitcoin’s long-term potential, we remain dedicated to innovation, operational excellence, and cementing our role as a key player in the bitcoin ecosystem.”
Canaan is also expanding its mining presence in North America. On Mar. 26, the firm announced agreements with Mawson Hosting LLC and another partner, securing mining operations in Pennsylvania and Texas. These agreements are expected to add 4.7 EH/s of computing power by Q2 2025.
With its growing mining infrastructure and record-breaking sales, Canaan aims to solidify its position as a key player in the bitcoin mining industry.
Use 1XBET promo code: 1X200NEW for VIP bonus up to €1950 + 150 free spins on casino and 100% up to €130 to bet on sports. Register on the 1xbet platform and get a chance to earn even more Rupees using bonus offers and special bonus code from 1xbet. Make sports bets, virtual sports or play at the casino. Join 1Xbet and claim your welcome bonus using the latest 1Xbet promo codes. Check below list of 1Xbet signup bonuses, promotions and product reviews for sportsbook, casino, poker and games sections. To claim any of the 1Xbet welcome bonuses listed in above table we recommend using the 1Xbet bonus code at registration of your account. New customers will get a €130 exclusive bonus (International users) when registering using the 1Xbet promo code listed above. 1Xbet Sportsbook section is the main place where users hang out, with over 1000 sporting events to bet each day. There are multiple choices to go for, and the betting markets, for example for soccer matches, can even pass 300 in number, and that is available for both pre-match and live betting, which is impressive and puts it right next to the big names in the industry.