Canaan includes paused Ethiopia mining in July hashrate report

Canaan reported 14.24 EH/s of global operating computing power for July, a figure that includes 4.96 EH/s from its operations in Ethiopia. However, a footnote in the filing indicated that mining operations in Ethiopia had been paused.

This inclusion means nearly 35% of the reported total operating hashrate originated from a region where active hashing was not confirmed. Canaan defines operating computing power as the theoretical output of energized mining machines, which allows for the inclusion of machines that are temporarily offline. The company did not specify whether the paused machines in Ethiopia remained energized or were actively hashing at the end of July.

The reporting represents a significant shift from June, when Canaan listed Ethiopia at only 0.36 EH/s of operating computing power against 4.96 EH/s of installed capacity. At that time, the company attributed the lower operating figure to a mining site going offline due to local power-grid maintenance.