The company also reported holding 3,951.53 ETH on its balance sheet during the same period, while saying its expansion efforts continued.
Canaan, a Bitcoin mining company, said its Bitcoin holdings reached 1,807.60 BTC after it mined 257 BTC in the first quarter. The company also disclosed 3,951.53 ETH on its balance sheet for the same period. The update points to continued accumulation of self-mined digital assets, a common treasury approach for some mining firms that retain part of their production instead of selling it immediately to cover operating costs. Canaan also said its expansion continued, although no further details were provided in the source.