Canaan targets 15 EH/s worldwide by mid-2025, eyes North American expansion

Canaan Inc. plans to reach 15 EH/s of global hashrate by mid-2025, aiming for 10 EH/s specifically in North America. Company executives emphasize they’ve established a new local team to forge partnerships and develop fresh projects. In line with this strategy, Canaan signed multiple contracts to deliver its latest Avalon models.

Recent reports show Canaan mined 62 BTC in December 2024, already surpassing its annual expansion target by 12%. The CEO highlighted ongoing investments in collaborative mining ventures in Texas, Pennsylvania, and additional states offering competitive power rates.

By deepening its footprint in North America, Canaan expects to mitigate volatility risk from fluctuating prices and shifting regulations. Projections suggest the firm could capture up to 10% of the North American market by late 2025 under favorable conditions.