Canaan Inc. Provides April 2026 Bitcoin Production and Mining Operation Updates
Rhea-AI Summary
Canaan (NASDAQ: CAN) reported April 2026 bitcoin mining metrics and corporate updates. The company mined 90 BTC from self-mining and received 3 BTC from customers, ending the month with a record 1,826 BTC and 3,952 ETH on its balance sheet.
Month-end non-JV installed hashrate reached 10.97 EH/s, up 34.6% year-over-year, with operating hashrate at 6.86 EH/s. Global non-JV fleet efficiency improved to 23.6 J/TH, and average all-in power cost was US$0.044/kWh. North American JVs contributed 4.82 EH/s installed hashrate and 120 MW power capacity. Canaan also secured a follow-on hash board module order from Tether for next-generation immersion-cooled mining systems.
AI-generated analysis. Not financial advice.
Positive
- Record month-end holdings of 1,826 BTC and 3,952 ETH on balance sheet
- Self-mining produced 90 BTC in April 2026, plus 3 BTC from customer payments
- Non-JV installed hashrate rose 34.6% year-over-year to 10.97 EH/s
- Global non-JV fleet efficiency improved from 27.4 J/TH to 23.6 J/TH since April 2025
- Average all-in power cost reported at US$0.044/kWh in April 2026
- North American JV operations reached 4.82 EH/s installed hashrate and 120 MW power capacity
- Follow-on Tether order for high-density hash board modules for immersion-cooled systems
Negative
- Management noted compressed margins challenging the broader crypto mining industry
News Market Reaction – CAN
On the day this news was published, CAN gained 4.02%, reflecting a moderate positive market reaction. Argus tracked a trough of -4.0% from its starting point during tracking. Our momentum scanner triggered 10 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $16M to the company's valuation, bringing the market cap to $406.19M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Sector peers showed mixed moves, with NNDM up 2.48% while UMAC, SSYS, CRSR, and DDD were modestly down. Momentum scanner names like YIBO (-6.82%) and QMCO (+2.60%) also moved in opposite directions, suggesting stock-specific rather than broad hardware-sector drivers.
Previous Crypto Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Apr 15 | March crypto update | Positive | +7.5% | Reported 89 BTC mined, record 1,808 BTC and 3,952 ETH treasury, capacity growth. |
| Mar 10 | February crypto update | Positive | -6.2% | 86 BTC mined, 1,793 BTC and 3,952 ETH treasury, JV hashrate and low power cost. |
| Feb 10 | January crypto update | Positive | -6.9% | Record 1,778 BTC and 3,951 ETH, 83 BTC mined, improved efficiency and buyback. |
| Jan 14 | December crypto update | Positive | +1.8% | Hashrate up sharply year-over-year, 86 BTC mined, record 1,750 BTC and 3,951 ETH. |
| Dec 10 | November crypto update | Positive | -2.3% | 89 BTC mined, 1,730 BTC and 3,951 ETH treasury, expanding capacity and investment. |
Crypto operations updates often produced mixed reactions, with several negative moves despite upbeat operational metrics and only two clearly positive price alignments.
Over recent crypto-tagged updates, Canaan has steadily scaled its self-mining platform. From November 2025 to March 2026, monthly BTC production ranged from 83–89 BTC, while the bitcoin treasury climbed from 1,730 BTC to 1,808 BTC plus 3,952 ETH. Installed power capacity and hashrate expanded, including a sizable West Texas JV. Today’s April 2026 update continues that trend with a new record 1,826 BTC treasury and greater JV contributions, reinforcing the growth narrative.
Historical Comparison
Over the last five crypto updates, CAN’s average move was -1.2%, with mixed reactions to similar operational growth. A positive move like 3.55% on this update would sit above that historical norm.
Crypto-tagged updates show a steady build-out: BTC treasury rising from 1,730 to 1,808 and now 1,826 BTC, expanding hashrate, JV integration in Texas, and consistently low all-in power costs near US$0.043–0.044/kWh.
Market Pulse Summary
This announcement highlights continued scaling of Canaan’s mining platform, including 90 BTC self-mined in April, record holdings of 1,826 BTC and 3,952 ETH, and non-JV installed hashrate of 10.97 EH/s alongside growing JV capacity. Investors can track trends in BTC production, fleet efficiency, power costs near US$0.044/kWh, and the build-out of global computing power to gauge how effectively this infrastructure growth translates into financial performance over time.
Key Terms
hashrate technical
eth technical
jv financial
mw technical
kwh technical
immersion-cooled technical
asic technical
AI-generated analysis. Not financial advice.
Achieved record high cryptocurrency treasury of 1,826 BTC and 3,952 ETH
Installed hashrate grew
Management Commentary
"April marked a constructive reset for Canaan. While compressed margins challenged the industry, periods like this one ultimately reinforce the foundation for sustainable, long-term growth," said Nangeng Zhang, chairman and chief executive officer of Canaan. "While it remains early, we believe that conditions are steadily becoming more favorable for disciplined and efficient operators like us. During April, we delivered 90 BTC from our self-mining operations and received an additional 3 BTC from customer payments. After accounting for operating costs, our cryptocurrency holdings reached a record 1,826 BTC and 3,952 ETH by the month-end. In addition, our joint venture operations produced approximately 48 BTC during the month, reflecting the growing scale of our broader operating platform."
Zhang continued, "We maintained strong self-operating performance in April, with month-end installed hashrate and month-end operating hashrate reaching 10.97 EH/s and 6.86 EH/s, respectively, up
"As our joint venture operations continue coming online, Canaan will continue to work to further strengthen its broader energy and compute infrastructure platform. Looking ahead, we remain focused on disciplined execution and thoughtful expansion as we build sustainable shareholder value over time."
April 2026 Bitcoin Mining Updates (unaudited)
Key Metrics | Results (Rounded Numbers) |
Bitcoins Mined During the Month | 90 BTC |
Month-End Bitcoins and ETH Owned by Canaan | 1,826 BTC 3,952 ETH |
Month-End Installed Hashrate (EH/s) | Non-JV: 10.97 EH/s JV4: 4.82 EH/s |
Month-End Operating Hashrate (EH/s) | Non-JV: 6.86 EH/s JV4: 4.35 EH/s |
Month-End Average Revenue Split2 | |
Average All-in Power Cost During the Month3 |
April 2026 Bitcoin Mining Infrastructure Updates (unaudited)
Non- | Global | ||
Month-End Average | Non-JV: 18.7 J/TH JV4: 25.7 J/TH | 29.3 J/TH | Non-JV: 23.6 J/TH JV4: 25.7 J/TH |
Month-End Installed | Non-JV: 108.8 MW JV4: 120 MW | 157.5 MW | Non-JV: 266.3 MW JV4: 120 MW |
Notes: |
1.Defined as the total number of bitcoins and ETH owned by the Company on its balance sheet, including any bitcoins and ETH receivable, excluding bitcoins and ETH that the Company has received as customer deposits. |
2.Defined as the weighted average percentage that Canaan would receive from the total revenues generated according to the applicable joint mining arrangements if |
3.Defined as the weighted average cost of power if |
4."JV" represents the Company's |
Current Mining Projects (As of April 30, 2026)：
Regions | Active | Operating | Installed | Expected | Estimated |
Global | 13 | 11.20 EH/s | 15.79 EH/s | 0.26 EH/s | 16.05 EH/s |
America | 5 | 4.36 EH/s | 5.82 EH/s | 0.00 EH/s | 5.82 EH/s |
JV-WindHQ | 3 | 4.35 EH/s | 4.82EH/s | 0.00 EH/s | 4.82 EH/s |
1 | 0.06 EH/s | 0.06 EH/s | 0.10 EH/s | 0.16 EH/s | |
2 | 2.33 EH/s | 4.96 EH/s | 0.16 EH/s | 5.12 EH/s | |
1 | 0.02 EH/s | 0.04 EH/s | 0.00 EH/s | 0.04 EH/s | |
1 | 0.08 EH/s | 0.08 EH/s | 0.00 EH/s | 0.08 EH/s | |
Notes: |
5.Defined as the amount of computing power that could theoretically be generated if all mining machines that have been energized were currently in operation, including mining machines that may be temporarily offline. |
6.Defined as the sum of Operating Computing Power and computing power that has been installed but not yet in operation, if any. |
7.Defined as the amount of computing power that has been delivered to the country where each mining project is located, but not yet installed. |
8.Defined as the sum of Installed Computing Power and Expected Computing Power. |
Recent Corporate Updates:
Extended Collaboration with Tether on New Form Factors for Mining and Compute Systems
On April 28, 2026, the Company announced that it had secured a follow-on order from Tether for high-density mining hash board modules, custom-developed to support next-generation immersion-cooled mining and computing systems. The agreement follows a successful 2025 proof-of-concept (POC) R&D project conducted in partnership with Tether and ACME Swisstech, a Swiss-based R&D firm specializing in innovative mining system solutions. This follow-on order is slated for deployment at a Tether-affiliated mining facility in
About Canaan Inc.
Established in 2013, Canaan Inc. (NASDAQ: CAN), is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. Canaan has extensive experience in chip design and streamlined production in the ASIC field. In 2013, Canaan's founding team shipped to its customers the world's first batch of mining machines incorporating ASIC technology under the brand name Avalon. In 2019, Canaan completed its initial public offering on the Nasdaq Global Market. To learn more about Canaan, please visit https://www.canaan.io/.
Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook and quotations from management in this announcement, as well as Canaan Inc.'s strategic and operational plans, contain forward-looking statements. Canaan Inc. may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission ("SEC") on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Canaan Inc.'s beliefs and expectations, such as expectations with regard to revenue or mining hash rate deployment, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company's goals and strategies; the Company's future business development, the ability of the Company to execute against its goals, financial condition and results of operations; the expected growth of the bitcoin industry and the price of bitcoin; the Company's expectations regarding demand for and market acceptance of its products, especially its bitcoin mining machines; the Company's expectations regarding maintaining and strengthening its relationships with production partners and customers; the Company's investment plans and strategies, fluctuations in the Company's quarterly operating results; competition in its industry; changing macroeconomic and geopolitical conditions, including evolving international trade policies and the implementation of increased tariffs, import restrictions, and retaliatory trade actions; and relevant government policies and regulations relating to the Company and cryptocurrency. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and Canaan Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Investor Relations Contact
Canaan Inc.
Xi Zhang
Email: IR@canaan-creative.com
Christensen Advisory
Christian Arnell
Email: canaan@christensencomms.com
Public Relations Contact
BlocksBridge Consulting
Jesse Colzani
Email: canaan@blocksbridge.com
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SOURCE Canaan Inc.