Canaan Inc. reported unaudited financial results for the second quarter ended June 30, 2026, posting a net loss of US$97.6 million and total revenues of US$31.9 million. The company mined 243 bitcoins during the quarter, bringing its digital asset treasury to a record high of 1,915 BTC and 3,952 ETH. Operating expenses included significant non-cash charges: a US$25.3 million inventory write-down, a US$9.2 million impairment of property and equipment, and an US$18.2 million loss on the fair value change in cryptocurrency. As of September 8, 2026, Canaan had repurchased approximately 16.4 million ADSs for an aggregate of US$7.4 million under its share repurchase program. The company operates in the cryptocurrency mining and ASIC computing equipment industry.
