Canaan Reports Record Treasury Holdings Amid Challenging Market Conditions
Canaan Inc., an innovator in compute and energy infrastructure, reported its unaudited financial results for the three months ended June 30, 2026. In a challenging market, the company navigated difficult conditions and generated $31.9 million in total revenue, with $13.6 million from product sales and $17.7 million from mining operations.
The company's digital asset treasury reached a record 1,915 BTC and 3,952 ETH at quarter-end, while its installed mining computing power (Non-JV) increased by 23.3% year-over-year to 10.05 EH/s. Canaan's all-in power cost remained competitive at around $0.043/kWh across its mining operations.
Chairman and CEO Nangeng Zhang commented, 'Q2 2026 presented a difficult period for bitcoin mining, as renewed bitcoin price pressure, weaker mining economics, and seasonal power constraints weighed on equipment demand and profitability.'