Canaan's Paused Ethiopia Mines Made Up 35% of July Hashrate

As of June 30, Canaan listed Ethiopia at only 0.36 EH/s of operating computing power against 4.96 EH/s installed. The company said the decrease primarily reflected one mining site going temporarily offline beginning in mid-June because of local power-grid maintenance. A month later, the July table returned Ethiopia's full 4.96 EH/s to the operating column even as the new footnote described the country's mining operations as paused.

The two disclosures do not establish that the July Ethiopia pause had the same cause, or that Canaan still considered it temporary. The documents also show why the 9.28 EH/s subtraction cannot be treated as an adjusted live total. The filings provide table classifications, not a live meter.

The scope issue also limits comparisons with production. Canaan reported mining 46 BTC in July and holding 1,917 BTC and 3,952 ETH at month-end. Those production numbers do not cover every row in the global capacity table.

Canaan separately reports metrics for its 49%-owned Alborz, Bear and Chief Mountain joint ventures in West Texas. It says joint-venture output is excluded from the company's Bitcoin production and average all-in power-cost calculations, even though joint-venture capacity appears in the global projects table. Canaan's 14.24 EH/s figure is best read as operating capacity under the company's theoretical definition.