Canaan Boosts Bitcoin, Ether Treasury as Miners Sell BTC
Bitcoin miner Canaan increased its digital asset holdings to record levels in February while many rival miners are selling reserves.Summary
Bitcoin mining company Canaan reported in its February unaudited update that it increased its digital asset holdings to a new record, holding 1,793 BTC and 3,952 ETH, valued around $128 million. Chairman and CEO Nangeng Zhang affirmed the company's commitment to a long-term strategy of building its digital asset treasury. This accumulation strategy contrasts sharply with the broader trend among Bitcoin miners, who have been increasingly selling their reserves—over 15,000 BTC since October—due to tightening margins caused by lower BTC prices and rising operational costs. Canaan also expanded its physical operations, acquiring a 49% stake in three West Texas mining projects for $39.75 million to boost its North American capacity.
(Source：Cointelegraph)