Canaan Inc. reported first-quarter 2026 revenue of $62.7 million, aligning with its previous guidance, despite a net loss of $88.7 million. The company's cryptocurrency reserves reached a new peak, holding 1,807.60 bitcoins and 3,951.53 ether as of March 31, 2026.
Operationally, Canaan's total installed hashing power across ten joint mining projects increased by 10.7% sequentially to approximately 11 EH/s, with 257 bitcoins mined in Q1. The company acquired a 49% stake in the ABC project in western Texas, enhancing its operational hashing power by 4.4 EH/s. Additionally, Canaan launched a 'hashpower-to-heat' project in Northern Europe, aiming for a total capacity of 8 megawatts. Looking ahead, Canaan forecasts Q2 2026 revenue between $35 million and $45 million.
Canaan Inc. Reports $62.7M Q1 Revenue, Crypto Reserves Hit Record High
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