Canaan Inc. filed its unaudited interim financial statements for the six months ended June 30, 2026. Total revenues declined to $94.6 million from $183.0 million in the prior year period, driven by a drop in product revenue to $56.5 million and mining revenue to $36.8 million. The company reported a net loss of $186.4 million compared to $97.5 million previously, with operating losses widening significantly due to a $9.2 million impairment on property, equipment, and software. Cash reserves decreased slightly to $66.0 million from $80.8 million at year-end 2025. The company also acquired a 49% equity interest in three mining projects (ABC Projects) for approximately $24.8 million in stock and equipment. Canaan Inc. operates in the cryptocurrency mining hardware manufacturing and digital asset mining industry.
