Recent Updates — CAN
Canaan Inc. reported mining 44 Bitcoin in September 2026, increasing its treasury balance to 1,875 BTC at month-end. The company's non-joint venture installed hashrate remained stable at 10 EH/s with an operating rate of 10 EH/s, while joint venture operations maintained 4.87 EH/s installed and 4.18 EH/s operating. Average all-in power costs were US$0.043/kWh. Additionally, the company's 8 MW Nordic district heating project is now fully operational, delivering heat to approximately 2,800 homes. Canaan Inc. designs ASIC high-performance computing chips and produces mining equipment.
Canaan Inc. sold its entire Ethereum position of 3,952 ETH and 54 BTC in late August 2026 at average prices of approximately US$2,400 per ETH and US$79,000 per BTC, generating US$13.9 million in cash. The company used a portion of these proceeds to repurchase approximately 13.6 million American Depositary Shares (ADSs), bringing total year-to-date repurchases to roughly 16.4 million ADSs. During August, Canaan mined 44 BTC and maintained its non-joint venture installed hashrate at 10.05 EH/s with an average all-in power cost of US$0.043/kWh. The company also announced that equipment installation is underway for a compute heat recovery greenhouse project in Canada ahead of the winter heating season. Canaan Inc. operates as a technology company focusing on ASIC high-performance computing chip design, mining machine production, and bitcoin mining operations.
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.
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.
Canaan Inc. reported mining 46 BTC in July 2026, bringing its treasury to 1,917 BTC and 3,952 ETH. The company authorized management to monetize a portion of this digital asset treasury to fund share repurchases under an existing board-authorized program. Canaan also received an additional 180-day compliance period from Nasdaq until January 11, 2027, to regain the $1.00 minimum bid price requirement following its transfer to the Nasdaq Capital Market. The company operates in the cryptocurrency mining hardware and computing infrastructure industry.