Crypto
Home›Crypto›Market Structure›Canaan’s July update counts paused Ethiopia hashing at…
Canaan’s July update counts paused Ethiopia hashing at nearly 35% of global power
The company reported 4.96 EH/s from Ethiopia in operating capacity, while a footnote said mining was paused and it did not confirm what was hashing at month-end.
Canaan’s July mining update counted 4.96 exahashes per second from paused Ethiopia operations within 14.24 EH/s of reported global operating computing power, implying Ethiopia accounted for nearly 35% of the total, according to CryptoSlate.
The filing assigned the full Ethiopia 4.96 EH/s to two projects in both the operating and installed columns, but footnote 10 said Canaan had paused mining in Ethiopia while keeping the hashrate listed in installed capacity.
Canaan did not specify whether paused machines remained energized or hashing on July 31, and the documents also show that its “operating computing power” metric reflects theoretical output of energized mining machines assuming all were operating, meaning the measure can include machines temporarily offline.
CryptoSlate notes that Ethiopia’s treatment also changed compared with the June 30 filing, where Ethiopia was listed at 0.36 EH/s of operating computing power versus 4.96 EH/s installed, and that Canaan previously linked the June decline to one site going temporarily offline due to local power-grid maintenance, without confirming whether the later pause had the same cause.