Author: coinexpert555 (Page 2)

This is part of Trump’s Great American Crypto Scam, a series about the catastrophic collision between the second Trump administration and the wild world of cryptocurrency. Read it all here.

Once upon a time, not long ago, Elon Musk was worried sick about climate change. Stopping it became an overarching career mission, reflected in both his business decisions and everyday actions. He gave the electric vehicle industry a jolt after taking over Tesla Motors in 2004. He joined President Donald Trump’s first business advisory council in 2017, then resigned in protest when Trump withdrew the United States from the Paris Agreement. He directed Tesla to buy up $1 billion worth of Bitcoin in 2021 and accept the cryptocurrency in formal transactions, only to backtrack when he remembered that Bitcoin mining is, by design, a heavily energy-intensive process that requires masses of fossil fuel­–powered computer servers to run at all times. It was such a notorious moment in the crypto world that one speaker led “FUCK ELON” chants during that year’s Bitcoin conference.

What a remarkable thing, then, for Musk to embrace Trump more closely than ever as the reelected president decorates his administration with oil-industry shills and with crypto insiders, whose energy-intensive mining rigs and data centers make them something of a natural complement to the fossil fuel industry’s expansionist goals.

But of course, it tracks with his general shifts in ideology and mission since the COVID era. Scientific nerdery gave way to virus conspiracies; climate change took a back seat to his longtime A.I. fears as his former nonprofit, OpenAI, achieved staggering successes; Tesla’s dangerous self-driving cars and dubious robotics earned priority over the electrification of transport. Musk has been happy to re-embrace Bitcoin because incorporating the currency into Tesla’s assets and accounting has allowed him to artificially boost the company’s profit reports and keep investors happy. The Earth is one thing, but revenue is another.

The core issue can be boiled down to the fact that Bitcoin mining is—to put it lightly—really, really, really bad for the environment. This is primarily due to a system it relies on called “proof of work”: Take the computer servers with access to online blockchain protocols, set them up with high-efficiency chips (like those highly coveted GPUs) that can transmit more computing power at a faster rate, and run those servers 24/7 to solve the cryptographic puzzles required to unlock new Bitcoins. To replicate this operation at scale requires whole data centers’ worth of GPUs, which produce audible noise and require a lot of water to keep cool. A 2024 paper published in the journal Cell Reports Sustainability found that the water usage of U.S. Bitcoin miners alone is as much as the average yearly water consumption of 300,000 U.S. households. On top of that, a single Bitcoin transaction uses enough water to fill a swimming pool.

Much of the power used to keep these things running is sourced from fossil fuels, with all the attendant emissions. It’s been estimated that worldwide Bitcoin mining and transactions have consumed more power than countries like Finland each year. It’s worrying enough that even Republican lawmakers in crypto-friendly red states, like Arkansas, have passed bills to regulate the digital-asset industry’s noise and air pollution. (Those efforts might be undercut should Trump carry through with an ill-advised campaign promise to ensure all Bitcoin is mined within U.S. borders only. Ironically, however, his trade war with China has prevented American Bitcoin miners from securing needed equipment.)

The techno-centric vision for Trump 2.0 was laid out in various written screeds from Musk’s Silicon Valley friends at Andreessen Horowitz, the venture capital hydra (and crypto funder) whose namesake founders became enthusiastic Trump converts and staffers this election cycle. Marc Andreessen’s “Techno-Optimist Manifesto” insisted upon building out energy “abundance” instead of cutting back on any fossil-fuel use; Ben Horowitz’s “Politics and the Future” blog announcement pledged his support for any political candidate who believed, like he did, that crypto “will create a fairer, more inclusive economy”; the duo’s co-written “Little Tech Agenda” all but declared war against the regulatory state in the wake of Biden administration attempts to impose tighter crypto regulations.

With Andreessen himself having joined Musk in keenly advising Trump throughout the presidential transition, the new administration has gotten to work implementing all facets of the Andreessen Horowitz blueprint—and yes, the crypto and energy policies are not incidental, because top-down climate denial is hardly irrelevant to their goals. The Securities and Exchange Commission, now a far more crypto-friendly agency under Trump, has also scrapped a Biden-era requirement for large companies to disclose their greenhouse gas emissions in depth. The president has once again withdrawn the U.S. from the Paris Agreement, with no objection from Musk this round. In fact, his already-infamous Department of Governmental Efficiency has been targeting the National Oceanic and Atmospheric Administration and the Environmental Protection Agency for data purges, grant freezes, and mass firings. It’s not a coincidence that Musk is doing this under the aegis of a fake “department” that’s named for the Dogecoin cryptocurrency and was staffed with Marc Andreessen’s help.

(Also not a coincidence: that the primary zero-carbon energy source the new Department of Energy is interested in expanding is nuclear power, a fixation of both Andreessen’s and Horowitz’s. Why is that? Well, it’s a good way to thumb their noses at misguided environmentalists who protested fission plants after the Three Mile Island meltdown. Also, they want more data and mining centers to be powered by nuclear power specifically.)

While purges of NOAA and EPA data are troubling for many reasons, one of the biggest is that they’ve censored key resources for tracking American energy consumption and greenhouse gas emissions. Those have been especially useful markers for independent researchers surveying and tracking how America utilizes its electricity, both dirty and clean. There’s Digiconomist, the much-cited project from Dutch economist Alex de Vries, that keeps a public monitor of Bitcoin mining’s environmental and emissions impacts. There’s also the fact that this data affects the pricing and regulation of agricultural commodities—and since Bitcoin and other cryptocurrencies will be considered commodities like gold and silver, it will be the agriculture-focused members of Congress who lead legislative oversight. What could go wrong?

Digital-asset evangelists are especially sensitive to the climate critiques, which popped up time and again during the pandemic-era crypto bubble as myriad celebrities—even the nominally environmentalist ones—got in on the grift. Some crypto ventures, like the alternative currency and blockchain Ethereum, shifted to coin-mining methods that were far less energy-intensive.

But Bitcoin truthers and like-minded users are dedicated to their all-systems-go, all-the-time approach. Why should the government make it easier for anyone to scrutinize and call out their electricity needs? And why should banks and other firms express any skepticism over cryptocurrency’s actual value, or take the time to meet their climate and environmental goals, when they could just be forced to mine this stuff instead? Trump himself has been cozying up to the stuff in increasingly concerning ways, from a disastrous meme currency to a coin-hoarding private venture to the establishment of a crypto arm for his Truth Social network, dedicated data centers and all. No better way to ensure regulatory capture than to grant the president his own funny money.

To that end, why should the government do anything to oppose the “financial innovation” tech in which some powerful VCs just so happen to have staked millions of dollars? If the consequence happens to be a hotter, less-inhabitable Earth, so be it. At least the crypto mavens will have their digital riches to isolate them from the real-world consequences of these decisions.

True believers in crypto have often championed it as the answer to so many of our financial, political, and even cultural woes. It’s decentralized, giving money and power back to the people without having to rely on evil banks or governments. It allows anyone to keep their money safe from inflation and the finicky, unpredictable economy. So what if it takes a few million gallons of water and untold amounts of greenhouse gases pumped into the atmosphere each year?

This is the currency of the future. It’s just too bad that there might not be a habitable future to spend it in.

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A crypto mine’s plans to shift from natural gas to nuclear power has opened fresh concerns from locals about cryptocurrency’s pollution footprint in an upstate New York community — and ultimately led to the adoption of a nuclear-free zone and restrictions on energy development.

North Tonawanda, a city of about 30,000 located between Buffalo and Niagara Falls, is home to a crypto mining facility run by DigiPower X, previously known as Digihost. Since opening in 2022, the facility has been a source of complaints from citizens about noise as well as air pollution, as Buffalo’s WGRZ detailed.

In February, residents gathered for an information session and then a public hearing. These meetings followed the December announcement of plans for Digihost to develop power sources with NANO Nuclear Energy, a company known for its nuclear microreactors. Digihost had begun exploring switching the energy source for its crypto facility to nuclear by 2031, per WGRZ.

In response to concerns, city officials proposed a new law that would block the development of nuclear reactors within city limits. The law would also restrict the construction and operation of other energy sources — including wind, hydroelectricity, natural gas, and coal.

A vote on the law was pushed back in February and passed in March, WGRZ reported.

The debate over this crypto mine’s power connects to broader discussions about the energy-intensive nature of mining, cryptocurrency’s pollution footprint, and whether nuclear energy is a viable option to power the industry without releasing carbon pollution.

Conventional crypto mining requires a large amount of electricity. When that electricity comes from highly polluting, dirty energy sources — such as gas-fired or coal-fired power plants — cryptocurrency’s pollution footprint is correspondingly big.

According to the U.S. Energy Information Administration, a crypto-mining facility uses lots of electricity because of the computing power needed to confirm transactions and create new currency — and the energy to cool equipment. As Investopedia detailed, not all cryptocurrencies use the same energy-intensive mining system, though the most prominent one, Bitcoin, does.

It’s important to note that exact details about crypto energy use have been hard to pin down. And many crypto operations have increased the portion of their electricity coming from cleaner energy sources — including nuclear. Nuclear energy is essentially free of carbon pollution, but it comes with its own concerns about radioactive waste and historical disasters. 

Crypto proponents and researchers have noted that mining can encourage the development of renewable sources such as solar projects. However, by many accounts, crypto mining remains an energy-intensive process that can have a large carbon footprint — and can consume significant quantities of water and create noise pollution, as well. 

The pollution associated with crypto mining has implications at the community level — such as in North Tonawanda — and on a larger scale due to the possible impacts of air pollution on human health risks and Earth’s rising temperature. 

Crypto has the potential to help communities economically and to encourage local renewable energy development. It can also cause communities headaches in dealing with pollution effects.

“The world’s transition to a digital economy, facilitated by major technological breakthroughs, has several benefits,” said a 2023 UN-led report on the impacts of Bitcoin mining. “But as the demand for exchanging and investing in digital currencies is rapidly growing, the world must pay careful attention to the hidden and overlooked environmental impacts of this growth.”

What about cryptocurrency’s pollution footprint in North Tonawanda?

In its reporting on the crypto site in North Tonawanda, WGRZ cited concerns from citizens and the city about noise and carbon pollution, as well as fears about proposed nuclear solutions.

“I’m worried about the air that I’m breathing with the emissions that they’re pumping into the air, and now what this nuclear thing can do,” city resident Mark Polito told the outlet.

For its part, the crypto company’s CEO Michel Amar said, “The opportunity to collaborate with NANO Nuclear represents a bold move toward achieving our sustainability goals.”

On March 18, the city voted in favor of the new law, raising questions about DigiPower X’s next steps.

“What we’re going to be doing moving forward … we’re going to be looking at our zoning codes and how we may or may not adapt language that would allow them in some manner,” Austin J. Tylec, the city’s mayor, told WGRZ. “But for now, we have hit the brakes on nuclear energy.

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SHANGHAI, March 27, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG), a rapidly expanding leader in Bitcoin mining, today announced key highlights from its filed annual report, marked by a successful pivot towards cryptocurrency mining and significant operational milestones, including securing its position as the third-largest publicly traded miner globally and a 400% year-over-year revenue increase. 

Fourth Quarter & Full Year 2024 Financial Performance

The Company achieved total revenues of RMB668.0 million (US$91.5 million) in Q4 2024, reflecting a 400% year-over-year increase. This growth was primarily driven by the launch of its Bitcoin mining business, which generated RMB653.0 million (US$89.5 million) in revenues. Net income for the quarter was RMB55.9 million (US$7.7 million), a notable turnaround from a net loss of RMB103.8 million in Q4 2023. Cango maintained strong liquidity with cash, cash equivalents, and short-term investments totaling RMB2.5 billion (US$345.3 million) as of December 31, 2024. 

For the full year, Cango reported total revenues of RMB804.5 million (US$110.2 million), with net income reaching RMB299.8 million (US$41.1 million), a significant turnaround from a net loss of RMB37.9 million in 2023. The results reflect the successful integration of Bitcoin mining operations alongside ongoing optimization of its legacy automotive services. 

Bitcoin Mining Operational Highlights

Cango deployed 32 exahashes per second (EH/s) of Bitcoin mining capacity in Q4 2024, securing its position as the third-largest publicly traded miner globally. During the quarter, the Company mined 933.8 Bitcoin, achieving an industry-leading efficiency of 17.81 BTC per EH/s. Operational costs were optimized, with an average fleet efficiency of 21.6 joules per terahash (J/TH) and a cash cost of US$67,769.9 per Bitcoin (excluding depreciation). As of December 31, 2024, Cango held a total of 933.8 Bitcoin, aligning with its long-term accumulation strategy. 

Cango’s mining operations span five countries, including the United States (38% of total hashrate), East Africa (37%), Oman, Paraguay, and Canada. Approximately 90% of its fleet comprises water-cooled Bitmain S19XP Hyd. machines, ensuring competitive energy efficiency and operational stability. 

Looking ahead, the Company plans to expand its hashrate to 50 EH/s by the end of July 2025 through the completion of its second-phase asset acquisition. Cango aims to further reduce energy costs by leveraging favorable regulatory developments in traditional energy markets and exploring partnerships for sustainable power solutions. Additionally, Cango is committed to enhancing its presence in the digital asset ecosystem while maintaining a disciplined approach to managing its Bitcoin holdings. 

Media Contact

Juliet Ye
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
Email: ir@cangoonline.com 

View original content:https://www.prnewswire.com/news-releases/cango-inc-presents-key-highlights-of-its-filed-annual-report-302413093.html

SOURCE Cango Inc.

Entering the cryptocurrency world can be both exciting and intimidating, especially when it comes to cloud mining. The allure of earning passive income is undeniable, but navigating this space requires careful planning and research to avoid common pitfalls. Choosing the right cloud mining platform isn’t just about potential profits—it’s about ensuring legality, security, and sustainability.  

In this blog post, we’ll explore three of the most reliable and legally compliant cloud mining platforms for 2025: Zaminer, ECOS, and Binance. We’ll also provide a detailed comparison of their features to help you make an informed decision.  

Platform Overview:

 Top 3 Cloud Mining Platforms in 2025  

1. Zaminer  

Zaminer has emerged as a leading cloud mining platform in the US and UK, thanks to its user-friendly design, robust security measures, and attractive free mining options. With a $100 bonus for new users upon registration, Zaminer caters to both beginners and experienced miners alike.  

 Key Features:  

– Eco-Friendly Operations: Zaminer emphasizes sustainability in its mining processes.  

– Intuitive Interface: The platform is easy to navigate, even for first-time users.  

– Daily Rewards: Users receive consistent daily payouts.  

– Advanced Security: Strong measures protect user data and investments.  

– 24/7 Support: A dedicated team is available to assist users around the clock.  

– Automated Earnings: Passive income is generated effortlessly through automated systems.  

– Cutting-Edge Hardware: Efficient mining with state-of-the-art technology ensures high performance.  

2. ECOS  

ECOS is a versatile platform that offers tailored contracts for a variety of investment strategies. It also features a mobile app for tracking mining performance and supports multiple cryptocurrencies for portfolio diversification.  

 Key Features:  

– Energy Efficiency: ECOS uses environmentally friendly operations to reduce energy consumption.  

– User-Friendly Interface: The platform is designed for ease of use, though some may find the interface slightly cluttered.  

– Extensive Analytics: Users can access detailed analytics to optimize their mining strategies.  

– Mobile App: Conveniently monitor your mining progress on the go.  

 Drawbacks:  

– The profit calculator can be misleading at times.  

– Primarily supports Bitcoin mining, limiting diversification opportunities.  

3. Binance  

Binance, one of the world’s largest cryptocurrency exchanges, also offers cloud mining services via Binance Pool. With its extensive ecosystem of crypto services, Binance is a solid choice for those looking to mine popular cryptocurrencies like Bitcoin and Ethereum without investing in costly hardware.  

 Key Features:  

– Beginner-Friendly Interface: The platform is designed to accommodate users with varying levels of experience.  

– Wide Range of Services: From mining to storing cryptocurrencies, Binance offers a comprehensive suite of tools.  

– No Hardware Required: Users can start mining without purchasing expensive equipment.  

– Free Mining Plan: A great option for newcomers looking to test the waters.  

 Drawbacks:  

– Limited control over the mining process compared to other platforms.  

Why Zaminer is the Top Choice for Cloud Mining in 2025  

Zaminer has quickly risen to prominence as a top-tier cloud mining platform due to its innovative technology, user-centric features, and commitment to transparency. Here’s what sets Zaminer apart:  

Transparency and Reliability  

Zaminer prioritizes transparency by providing real-time data on pool performance, equipment efficiency, and earnings. This level of detail ensures that users have full visibility into their investments.  

 Competitive Pricing and Flexible Plans  

Understanding the diverse needs of its users, Zaminer offers a range of pricing options and customizable contracts. Whether you’re a beginner or a seasoned investor, the platform’s flexibility makes it accessible to all.  

Cutting-Edge Technology  

Zaminer stays ahead of the curve with its optimized operations and advanced hardware, maximizing returns while minimizing costs. This ensures users achieve superior performance in an increasingly competitive market.  

Exceptional Customer Support  

The platform’s dedicated support team is available 24/7 to address any questions or concerns, fostering a sense of community among its users.  

Final Thoughts  

Selecting the right cloud mining platform is crucial for anyone venturing into cryptocurrency investments. While the promise of passive income through cloud mining is appealing, it’s essential to approach it with caution and due diligence. Platforms like Zaminer, ECOS, and Binance offer unique features and benefits that cater to different types of investors.  

Whether you’re a seasoned crypto enthusiast or just starting out, staying informed will help you make smarter and more secure investments in cloud mining. Remember: knowledge is your most valuable asset in this ever-evolving industry!  

For more information about Zaminer and its offerings, visit their official website: https://Zaminer.com

Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

United States-based Bitcoin miner Crusoe Energy is wrapping up its Bitcoin mining business as it plans to shift focus towards the artificial intelligence sector.

According to a recent press release, Crusoe will sell 425 of its modular data centers— spanning sites across Colorado, North Dakota, Montana, Wyoming, New Mexico, Utah, Texas, and Argentina — with a combined 270 megawatts of power generation capacity, to the New York Digital Investment Group.

The deal also includes its Digital Flare Mitigation business, and around 135 employees will transition to NYDIG.

“Our innovative approach to energy utilized for mining is uniquely complementary to NYDIG’s bitcoin custody, institutional trading and mining businesses, creating a consolidated business that is more valuable than the sum of its parts,” Chase Lochmiller, CEO and co-founder of Crusoe, said regarding the acquisition.

NYDIG, which already has a strong presence in Bitcoin custody, trading, and mining, plans to continue operating and investing in the newly acquired business. In a separate announcement, the firm said the move will help support Bitcoin’s proof-of-work mechanism and contribute to the network’s long-term security.

Founded in 2018, Crusoe Energy was among the first U.S. Bitcoin mining firms to harness wasted natural gas to fuel the high-performance computing needed for both crypto mining and AI workloads. 

Now, the company says it’s ready to shift gears and focus on scaling its AI infrastructure.

“We will continue to channel the same energy-first mentality towards scaling AI infrastructure and accelerating the adoption and proliferation of AI in our everyday lives,” Lochmiller added.

Signs of a transition to AI had already emerged in 2024, when Crusoe announced a multibillion-dollar deal with energy tech firm Lancium to build a 200-megawatt AI data center in Abilene, Texas.

Touted as the “first phase” of a larger expansion, the facility was set to tap into up to 1.2 gigawatts of clean power and support GPU clusters designed for AI training and inference at scale.

At the time, Lochmiller called the project a unique opportunity to “sustainably power the future of AI.” Although a specific launch date wasn’t confirmed, the facility was expected to go live in 2025.

Crusoe’s transition to AI comes at a time when the U.S. government is also turning its attention to the sector. Since returning to office in 2025, President Donald Trump has signed an executive order aimed at encouraging American leadership in artificial intelligence.

NYDIG, a leading bitcoin and power firm, has announced it has entered into a definitive agreement to acquire Crusoe’s Bitcoin mining operations.  As part of the transaction, NYDIG will acquire over 270MW of power generation technology that drives the production of near-zero direct cost of electricity, expanding NYDIG’s already significant role in supporting bitcoin’s proof-of-work security. 

NYDIG will integrate and expand the world-class team that pioneered Crusoe’s bitcoin mining business, supporting NYDIG’s mission of advancing the modern global economy through innovation at the intersection of power, compute, and sound money.  The two firms will maintain an ongoing strategic partnership that leverages each firm’s unique capabilities in the HPC industry, with Crusoe contributing its expertise in AI data center development and NYDIG providing its specialized securitization and financing capabilities.

Since its founding in 2017, NYDIG has been at the forefront of innovation with a proven track record of breakthrough product development, including closing an industry-first Investment Grade (IG) credit-rated facility invested solely in a pool of bitcoin-collateralized fiat loans (“HODL loans”) last month.  NYDIG combines technology expertise with operational, risk management, and financial markets excellence in two industry-leading, vertically-integrated franchises: Power & Bitcoin Mining and Bitcoin Financial Infrastructure.

As an affiliate of Stone Ridge Holdings Group, NYDIG benefits from significant synergies across a wide variety of products and services.  The industry-leading Stone Ridge Energy (SRE) franchise owns and controls over 10GW of U.S. natural gas production, providing a complementary source of power to drive the evolution of bitcoin mining, and reducing energy input cost through the consumption of stranded energy available throughout the life cycle of a natural gas well.

This full-scale Stone Ridge ecosystem makes Crusoe’s Digital Flare Mitigation (DFM) technology a natural fit for NYDIG.  DFM captures natural gas that would have otherwise been burned off or “flared” and converts it into electricity to power advanced, modular data centers co-located onsite.  Crusoe’s Bitcoin mining operation, growing rapidly, includes more than 20 sites across 7 states and a joint venture in Argentina.  NYDIG will operate and expand the business inside its existing Power & Bitcoin Mining division. 

“With fiat currencies collapsing against bitcoin around the world—and since I founded NYDIG even the U.S. dollar down 97% for Americans and American firms not yet saving in bitcoin—it is critically important to keep the bitcoin network secure, and at the lowest possible cost,” said Ross Stevens, Founder & Executive Chairman of NYDIG.  “At the same time, natural gas is a powerful weapon in the fight against global energy poverty and, across Stone Ridge, we chose to be leaders in this battle.  In the years to come, NYDIG will invest in and expand the footprint of DFM and bitcoin—separately and in combination—across the country and around the world, doing our part to advance human flourishing.”

“The proof-of-work consensus mechanism in the bitcoin blockchain algorithmically incentivizes the convergence of energy and computing.  Crusoe is proud to have been a pioneer in repurposing otherwise wasted energy resources such as gas flaring to power the bitcoin network.  Our innovative approach to energy utilized for mining is uniquely complementary to NYDIG’s bitcoin custody, institutional trading and mining businesses, creating a consolidated business that is more valuable than the sum of its parts,” Chase Lochmiller, CEO and co-founder of Crusoe said.   “We will continue to channel the same energy-first mentality towards scaling AI infrastructure and accelerating the adoption and proliferation of AI in our everyday lives.”

“Our partnership with Crusoe was founded on a shared cultural alignment and mutual commitment to driving advancements at the intersection of power and compute,” said Tejas Shah, CEO of NYDIG.  “Crusoe has built an extraordinary bitcoin mining business by demonstrating remarkable innovation—bringing together the industry’s top talent to solve complex challenges and unlock untapped energy sources.  We’re incredibly excited to integrate this world-class team and their capabilities into our growing business.”

The final closing of the transaction is subject to regulator approvals and customary consents.

New mining partnerships to add ~4.7 EH/s

Mining machines to be hosted at facilities in Pennsylvania and Texas

Self-mining energization expected in coming months

SINGAPORE, March 26, 2025 /PRNewswire/ — Canaan Inc. (NASDAQ: CAN) (“Canaan” or the “Company”), an innovator in crypto mining, today announced that wholly owned subsidiaries of Canaan have signed agreements that expand the Company’s self-mining capabilities at two new partners’ mining facilities in Pennsylvania and Texas.

A three-year master colocation agreement has been entered into with Mawson Hosting LLC, an affiliate of Mawson Infrastructure Group Inc. (NASDAQ: MIGI), for its facility in Midland, Pennsylvania. This expansion in Pennsylvania, together with another recently executed 24-month equipment hosting agreement for a facility in Edna, Texas, is expected to add around 4.7EH/s of North American hashrate to Canaan’s self-mining computing power. The majority of this hashrate is expected to be installed by the second quarter of 2025.

“Our team has been evaluating mining sites across North America for several months, patiently looking for self-mining and partnership opportunities that made sense for our business.  We believe that these two new partners have goals that align with Canaan’s and that we can build long-term relationships with them,” said Nangeng Zhang, chairman and chief executive officer of Canaan.  “The U.S. has regulatory policies that support our Company’s ambitions, and we believe that we will be able to find additional partnerships and sites that will help us to increase our presence in the U.S. through self-mining activities and provide us with additional opportunities for mining machine sales.”

“We are delighted to announce the partnership between Canaan and Mawson. This agreement aligns with our strategy of optimizing digital infrastructure and compute management capabilities with the latest-generation machines. By combining Canaan’s cutting-edge hardware and Mawson’s digital infrastructure innovation, we expect to create long-term value that will benefit both companies as well as the overall ecosystem,” said Rahul Mewawalla, chief executive officer and president of Mawson Infrastructure Group Inc.

About Canaan Inc.

Established in 2013, Canaan Inc. (NASDAQ: CAN), is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. Canaan has extensive experience in chip design and streamlined production in the ASIC field. In 2013, Canaan’s founding team shipped to its customers the world’s first batch of mining machines incorporating ASIC technology in bitcoin‘s history under the brand name Avalon. In 2019, Canaan completed its initial public offering on the Nasdaq Global Market. To learn more about Canaan, please visit https://www.canaan.io/.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements. Among other things, Canaan Inc.’s anticipated financing plans and its intended use of proceeds contain forward-looking statements. Canaan Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Canaan Inc.’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s goals and strategies; the Company’s future business development, financial condition and results of operations; the expected growth of the bitcoin industry and the price of bitcoin; the Company’s expectations regarding demand for and market acceptance of its products, especially its bitcoin mining machines; the Company’s expectations regarding maintaining and strengthening its relationships with production partners and customers; the Company’s investment plans and strategies, fluctuations in the Company’s quarterly operating results; competition in its industry; and relevant government policies and regulations relating to the Company and cryptocurrency. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Canaan Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact

Canaan Inc.
Xi Zhang
Email: IR@canaan-creative.com 

ICR, LLC.
Robin Yang
Tel: +1 (347) 396-3281
Email: canaan.ir@icrinc.com 

View original content:https://www.prnewswire.com/news-releases/canaan-inc-expands-self-mining-footprint-in-north-america-302411876.html

SOURCE Canaan Inc.

The Russian Ministry of Internal Affairs has warned citizens that hackers are infecting smart home devices with crypto mining malware.

Officials claim cybercriminals aim to create networks of compromised devices that could also be used for DDoS attacks, surveillance, and even robbery.

To mitigate risks, the ministry advises regularly changing passwords, updating firmware, and purchasing devices from reputable manufacturers.

Crypto-related fraud is also rising in Russia, with criminals posing as brokerage employees to lure victims into fake exchanges.

Prosecutors in Yakutsk are investigating a case where a resident allegedly lost $4,600 to such a scheme. Authorities have launched a criminal case and a broader inquiry into fraudulent crypto operations.

Illegal crypto mining remains a pressing issue, particularly in regions like the North Caucasus and Siberia. Moscow has enforced seasonal bans on crypto mining until 2031, aiming to conserve electricity during peak winter months.

However, officials in Irkutsk report that while 308 MW of power was freed up, the unused capacity provided no tangible benefit to consumers.

Despite concerns, some government officials argue that mining bans are improving energy reliability. Transbaikal authorities claim no legal mining operations remain in the region and have found no evidence of illegal mining activity. Industry experts remain sceptical about the overall impact of these restrictions.

For more information on these topics, visit diplomacy.edu.