Canaan Mines 44 BTC in August 2026 Amid Ongoing Optimization Efforts

Canaan's August bitcoin mining update is in, and it's been a productive month for the company. According to its report, Canaan mined 44 BTC in August 2026.

The non-JV installed hashrate remained at 10.05 EH/s, while the JV installed hashrate reached 4.92 EH/s. This is likely due to the company's ongoing efforts to optimize its mining operations.

In a separate development, Canaan sold its entire 3,952 ETH position and 54 BTC for approximately $13.9 million in cash at average prices of around $2,400/ETH and $79,000/BTC. The proceeds from this sale were used to repurchase about 13.6 million ADSs.

This brings the year-to-date repurchases by Canaan to approximately 16.4 million ADSs. As of August 31, the company held 1,868 BTC and no ETH, maintaining an average all-in power cost of around $0.043/kWh.