Crypto
Canaan Shares Fall as Self-Mining Operations Reach Milestone in Q2 2026
Canaan Inc., a bitcoin mining equipment manufacturer, presented its Q2 2026 operating and financial results on September 8, 2026. The company's revenue fell short of guidance due to weak equipment sales.
Total revenue was $31.9 million, while self-mining operations accounted for 55% of total revenue for the first time in the company's history. This represents a significant shift from just 12.2% in Q3 2024.
The company's three business segments performed as follows:
Industrial Mining Equipment generated $12.7 million in revenue, delivering 2.5 EH/s of computing power at an average selling price of $5.50 per terahash per second. Home Mining Equipment contributed $1.0 million in revenue from approximately 1,200 units delivered.