Canaan's Bitcoin Treasury Hits 1,917 BTC as Mining Output Holds Steady

Canaan Inc., a Nasdaq-listed Bitcoin mining hardware manufacturer, has grown its Bitcoin treasury to 1,917 BTC by adding a net 2 BTC in July 2026. This modest increase is notable given that Canaan mined 46 BTC during the same month, raising questions about operational costs and strategic sell-offs.

The company's mining output remained relatively stable, with a slight dip from 49 BTC in June to 46 BTC in July. Canaan operates a non-joint venture fleet with an installed hashrate of approximately 10.05 EH/s, complemented by another 4.85 EH/s from joint venture projects.

The company's board authorized using a portion of its digital asset treasury to fund ADS share repurchases on August 4, 2026, citing the company's market valuation as too low relative to its underlying value. This move is aimed at supporting the stock price and meeting Nasdaq Capital Market compliance requirements ahead of a January 2027 deadline.

Canaan's Bitcoin accumulation trajectory has been consistent, with the company holding 1,293 BTC at the end of 2024 and growing that to 1,750 BTC by year-end 2025. The Ethereum side of the ledger tells a more dramatic story, with Canaan holding just 3 ETH at the end of 2024 before ballooning to 3,952 ETH by late 2025.