Canaan Inc. reports developments tied to ASIC high-performance computing chips, Avalon bitcoin mining machines, and its own crypto mining operations. News commonly covers mining equipment orders, customized hash board modules, immersion-cooled system designs, software and hardware services, and the company’s monthly bitcoin production, hashrate, power-cost and cryptocurrency treasury updates.
Canaan’s updates also include energy-linked mining infrastructure, North American site expansion, completed acquisitions of mining project interests, ADS and Class A ordinary share actions, share repurchase activity, beneficial ownership disclosures, annual report filings, conference participation, and Nasdaq listing-compliance notices affecting its American depositary shares.
Canaan (NASDAQ: CAN) appointed KPMG in Singapore as its independent auditor, effective October 19, 2026, replacing KPMG Huazhen. The Audit Committee and Board of Directors approved the change following an evaluation process. KPMG in Singapore will audit and report on the consolidated financial statements for the year ending December 31, 2026.
Canaan said the transition reflects its increasingly international operations and organizational footprint. KPMG Huazhen was dismissed on September 22, 2026. Its reports for 2025 and 2024 contained no adverse opinion or disclaimer and were not qualified or modified regarding uncertainty, audit scope or accounting principles. There were no accounting or auditing disagreements or reportable events during the two most recent fiscal years and the subsequent interim period through September 22, 2026.
Canaan (NASDAQ: CAN) reported unaudited September 2026 bitcoin production of 44 BTC alongside updates on mining operations and treasury-funded share repurchases. Month-end bitcoin holdings were 1,875 BTC. Non-joint-venture installed computing capacity remained stable at 10.00 EH/s; joint-venture installed capacity was 4.87 EH/s, with 4.18 EH/s operating.
The 8 MW Nordic heating project is fully operational, serving approximately 2,800 homes. Canadian greenhouse heat recovery deployment remains pending site inspections. Ethiopian mining operations are paused, although their capacity remains included in installed figures. By October 15, Canaan had monetized 3,952 ETH and 54.5 BTC for approximately US$13.9 million. It spent US$5.4 million repurchasing 13.6 million ADSs in late August; year-to-date repurchases totaled approximately 16.4 million ADSs.
Canaan (CAN) will exhibit Bitcoin-mining heat-reuse systems at BTCHEL in Helsinki, Finland, on September 25 and 26.
Its Avalon A1566HA hydro-cooled units produce hot water at approximately 80°C for district heating networks. A Nordic heating provider selected the platform after a competitive evaluation and replaced its conventional heating solutions. As of September 2026, heat from an approximately 8 MW installation had been delivered to approximately 2,800 homes.
Canaan will also display its Avalon Nano 3S, Avalon Mini 3 and AvalonQ home miners, which put heat generated by Bitcoin mining to use in homes.
Canaan (CAN) reported its unaudited bitcoin mining and capital allocation update for August 2026.
The company mined 44 BTC in August and ended the month with 1,868 BTC and 0 ETH on its balance sheet. Non-joint-venture installed hashrate was 10.05 EH/s, with joint-venture installed hashrate at 4.92 EH/s; non-JV operating hashrate matched installed at 10.05 EH/s, while JV operating hashrate was 4.11 EH/s. Average revenue split from joint mining was 60.6%, and the average all-in power cost was US$0.043/kWh.
Canaan monetized 3,952 ETH and 54 BTC for about US$13.9 million in cash and used US$5.4 million of this to repurchase roughly 13.6 million ADSs, bringing year-to-date repurchases to about 16.4 million ADSs. Computing equipment for its Canadian compute heat recovery greenhouse has arrived, with installation underway. The company’s global installed computing power reached 14.96 EH/s across 13 active projects, including paused operations in Ethiopia that still contribute to installed hashrate.
Canaan (CAN) reported unaudited second quarter 2026 results with total revenue of US$31.9 million amid a challenging bitcoin mining environment.
Revenue fell from US$62.7 million in Q1 2026 and US$100.2 million a year earlier, with products revenue dropping to US$13.6 million on weaker rig demand and lower selling prices, and mining revenue at US$17.7 million due to a lower average bitcoin price. Cost of revenues was US$61.2 million, leading to a gross loss of US$29.3 million. Net loss widened to US$97.6 million, driven by a US$25.3 million inventory and prepayment write-down and reserve, a US$9.2 million impairment of property and equipment, and an US$18.2 million loss from fair value changes in cryptocurrency and derivatives.
The company produced 243 bitcoins in Q2 and held a record digital asset treasury of about 1,915.5 BTC and 3,951.7 ETH, while maintaining an all-in power cost of around US$0.04–0.043/kWh and non‑JV installed mining power of 10.05 EH/s. As of September 8, 2026, Canaan had repurchased roughly 16.4 million ADSs for US$7.4 million, funded in part by late‑August sales of 3,952 ETH and 54 bitcoins that generated about US$13.9 million in cash.
Canaan (NASDAQ: CAN) announced it will release its second quarter 2026 financial results, for the period ended June 30, 2026, before the U.S. market opens on September 8, 2026. Management will host an earnings conference call at 8:00 A.M. U.S. Eastern Time / 8:00 P.M. Singapore Time the same day.
Investors must register in advance via the provided online registration link to receive dial-in numbers and a unique access PIN. Questions can be emailed to IR@canaan-creative.com up to 24 hours before the call, and a live and archived webcast will be available on Canaan's investor relations website.
Canaan (NASDAQ: CAN) will exhibit at the Bitcoin Asia conference from August 27–28, 2026, at the Hong Kong Convention and Exhibition Centre. The company will present its “From Enterprise to Home” concept, showing how its Bitcoin computing solutions span large-scale data centers to residential environments with low noise and heat repurposing.
Canaan will showcase three Avalon hardware models tailored for home use: Avalon Nano 3S (entry-level micro miner), Avalon Mini 3 (mining plus space heating), and AvalonQ (low-noise, adaptive power, app control). Attendees can visit Booth 143 to discuss hardware performance, heat recovery, and decentralized hashrate networks.
Canaan (NASDAQ: CAN) reported unaudited July 2026 bitcoin mining results, producing 46 BTC and ending the month with a digital asset treasury of 1,917 BTC and 3,952 ETH. Non-joint venture operating hashrate and installed hashrate were both 10.05 EH/s, while JV operations reached 4.20 EH/s operating and 4.85 EH/s installed hashrate.
According to Canaan, its North American non-JV fleet achieved average miner efficiency of 17.9 J/TH, with a global average all-in power cost of US$0.043/kWh. The company operated 12 active mining projects worldwide totaling 14.24 EH/s operating computing power and 14.89 EH/s installed computing power.
Canaan authorized management to monetize part of its digital asset treasury to repurchase ADSs under an existing program, citing a market value below the combined value of cash and digital assets. The company also transferred its ADS listing to the Nasdaq Capital Market and received an additional 180-day period, until January 11, 2027, to regain compliance with Nasdaq’s minimum US$1.00 bid price requirement.
Canaan (NASDAQ: CAN) authorized its management to monetize a portion of its digital asset treasury to fund repurchases of its American depositary shares under the share repurchase program approved by its board effective December 12, 2025. Further buybacks may be funded with digital asset proceeds, subject to trading levels, market conditions, working capital needs, and Board oversight. According to Canaan, its market capitalization is below the combined value of its digital asset holdings and cash and cash equivalents as of March 31, 2026. June 2026 updates indicated digital assets with an approximate market value of US$130 million based on prices as of August 3, 2026.
Canaan (NASDAQ: CAN) announced that Nasdaq has granted an additional 180-day compliance period, until January 11, 2027, to regain compliance with the US$1.00 minimum bid price requirement under Listing Rule 5550(a)(2). Canaan currently meets all other applicable initial listing standards for the Nasdaq Capital Market.
The company’s ADSs, each representing 15 Class A ordinary shares, will continue trading on the Nasdaq Capital Market under the symbol CAN. If the closing bid price is at least US$1.00 for 10 consecutive business days during this period, Nasdaq will confirm compliance. Canaan recently transferred its ADS listing from the Nasdaq Global Market to the Nasdaq Capital Market, effective July 1, 2026, and plans to monitor its share price and evaluate options to address the bid-price deficiency.