Canaan Inc. has released its unaudited financial results for the first quarter of 2026, reporting total revenue of $62.7 million, aligning with previous guidance. The company recorded a net loss of $88.7 million and an adjusted EBITDA loss of $76.3 million. As of March 31, Canaan's cryptocurrency reserves increased to 1,807.60 BTC and 3,951.53 ETH, with a production of 257 BTC during the quarter.
The financial report details that Canaan's product sales revenue reached $42.9 million, while self-mining operations generated $19.1 million. The cost of revenue was reported at $85.6 million, resulting in a gross loss of $22.9 million.
Canaan Reports Q1 2026 Revenue of $62.7 Million, Net Loss of $88.7 Million
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