Canaan Technology's Bitcoin production reached 89 coins in July, with holdings rising to 1,511 coins

According to HashChain, recently, Canaan Technology revealed that it produced a total of 89 Bitcoins in July, and by the end of the month, its total Bitcoin holdings increased to 1,511 coins. The company has withdrawn from its operations in Kazakhstan and terminated a hosting agreement for a 0.96 EH/s mining machine in South Texas. The relevant mining machines are currently being transferred to new partners, and approximately 0.50 EH/s of computing power is expected to be redeployed online in August. As of the end of July, Canaan Technology's overall computing power was 7.95 EH/s, with operational computing power at 6.24 EH/s, and the average electricity cost has decreased to $0.042 per kilowatt-hour. Canaan Technology has adopted a long-term holding strategy for Bitcoin.