Canaan Inc. Provides July 2026 Bitcoin Production and Mining Operation Updates
Rhea-AI Summary
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.
Positive
- 46 BTC mined in July 2026, supporting self-funded operations
- Digital asset treasury of 1,917 BTC and 3,952 ETH at July 31, 2026
- Non-JV operating and installed hashrate both at 10.05 EH/s
- Average all-in power cost of US$0.043/kWh in July 2026
- Authorization to use digital asset treasury for ADS repurchases under existing program
- Additional 180-day period to regain Nasdaq minimum bid price compliance, until January 11, 2027
Negative
- ADSs remain below Nasdaq’s US$1.00 minimum bid price, requiring compliance by January 11, 2027
- Canaan has paused mining operations in Ethiopia, though related hashrate remains installed
- JV operating hashrate of 4.20 EH/s below installed 4.85 EH/s after prior wildfire disruption
News Explained
Canaan's July update leaves an important operational qualification: Ethiopia's mining is paused, yet its 4.96 EH/s remains in the 14.89 EH/s installed total, so that capacity figure includes equipment not currently operating.
Market Reaction – CAN
Following this news, CAN has gained 1.39%, reflecting a mild positive market reaction. Our momentum scanner has triggered 5 alerts so far, indicating moderate trading interest and price volatility. The stock is currently trading at $0.23. Trading volume is elevated at 2.5x the average, suggesting notable buying interest.
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Key Figures
Previous Crypto Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jul 14 | June mining update | Positive | -3.6% | Reported June bitcoin production, treasury growth, hashrate, efficiency, and power-cost metrics. |
| Jun 11 | May mining update | Positive | +2.9% | Reported higher bitcoin production, improved efficiency, expanded infrastructure, and additional project orders. |
| May 19 | Mining conference participation | Neutral | -13.6% | Participated in a Bitcoin conference roundtable focused on home mining and decentralized computing. |
| May 14 | April mining update | Positive | +4.0% | Reported April bitcoin production, record treasury holdings, infrastructure expansion, and a Tether order. |
| Apr 15 | March mining update | Positive | +7.5% | Reported March bitcoin production, record treasury holdings, and expanded global installed power capacity. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Crypto-tagged events averaged -0.55%, with operating updates producing both aligned and divergent reactions.
Key Terms
hashrate technical
eh/s technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Management Commentary
"July was a month of continued operational discipline as we navigated a dynamic mining environment," said Nangeng Zhang, chairman and chief executive officer of Canaan. "We mined 46 bitcoins during the period, bringing our cryptocurrency treasury to 1,917 BTC and 3,952 ETH at the month-end. Across our mining operations, our North American non-JV fleet maintained an average miner efficiency of 17.9 J/TH. Our joint venture operations continued to stabilize following the wildfire-related disruption at Alborz, with operating hashrate increasing steadily to 4.20 EH/s and installed hashrate reaching 4.85 EH/s at month-end."
Zhang continued, "More broadly, our recently announced authorization for management to use a portion of our cryptocurrency treasury to fund share repurchases reflects a flexible and selective approach to treasury management. Bitcoin generated through our operations provides us with a strategic source of capital that can be monetized and redeployed when we believe market conditions make share repurchases an attractive use of capital and support long-term value creation on a per-share basis."
"Looking ahead, we view our mining operations as more than a source of computing capacity. Combined with our disciplined approach to capital allocation, we believe Canaan is positioned to expand beyond computing hardware and to build a more integrated computing and energy platform, while creating additional opportunities to generate long-term value for our shareholders."
July 2026 Bitcoin Mining Updates (unaudited)
Key Metrics | Results (Rounded Numbers) |
Bitcoins Mined During the Month | 46 BTC |
Month-End Bitcoins and ETH Owned by Canaan | 1,917 BTC 3,952 ETH |
Month-End Installed Hashrate (EH/s) | Non-JV: 10.05 EH/s JV[5]: 4.85 EH/s |
Month-End Operating Hashrate (EH/s)[2]
| Non-JV: 10.05 EH/s JV[5]: 4.20 EH/s |
Month-End Average Revenue Split[3] | |
Average All-in Power Cost During the Month[4] |
July 2026 Bitcoin Mining Infrastructure Updates (unaudited)
Non- | Global | ||
Month-End Average Miner Efficiency | Non-JV: 17.9 J/TH JV[5]: 24.8 J/TH | 29.3 J/TH
| Non-JV: 23.7 J/TH JV[5]: 24.8 J/TH |
Month-End Installed Power Capacity | Non-JV: 88.7 MW JV[5]: 120 MW | 157.5 MW
| Non-JV: 246.2 MW JV[5]: 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, and excluding bitcoins and ETH received as customer deposits.
2. Defined as the operating hashrate that could theoretically be generated by all energized mining machines as of month-end, including machines that may be temporarily offline, and applies only to non-JV operations.
3. Defined as the weighted average percentage that Canaan would receive from the total revenues generated according to the applicable joint mining arrangements if
4. Defined as the weighted average cost of power if
5. "JV" represents the Company's
Current Mining Projects (As of July 31, 2026): | |||||
Regions | Active | Operating | Installed | Expected | Estimated |
Global | 12 | 14.24 EH/s | 14.89 EH/s | 0.10 EH/s | 14.99 EH/s |
America | 4 | 4.90 EH/s | 4.90 EH/s | 0.00 EH/s | 4.90 EH/s |
JV-WindHQ | 3 | 4.20 EH/s | 4.85 EH/s | 0.00 EH/s | 4.85 EH/s |
1 | 0.06 EH/s | 0.06 EH/s | 0.10 EH/s | 0.16 EH/s | |
2 | 4.96 EH/s | 4.96 EH/s | 0.00 EH/s | 4.96 EH/s | |
1 | 0.04 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:
6. 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, and applies only to non-JV operations.
7. Defined as the sum of Operating Computing Power and computing power that has been installed but not yet in operation, if any.
8. Defined as the amount of computing power that has been delivered to the country where each mining project is located, but not yet installed.
9. Defined as the sum of Installed Computing Power and Expected Computing Power.
10. Canaan has paused its mining operations in
Recent Corporate Updates:
Authorized Share Repurchase Using Portion of Digital Asset Treasury
On August 4, 2026, the Company announced that it authorized its management to monetize a portion of its digital asset treasury to fund repurchases of its American Depositary Shares ("ADSs"). The repurchases will be executed under the Company's existing share repurchase program authorized by its board of directors on December 12, 2025. Based on its current market capitalization, the Company is trading below the combined value of its digital asset holdings and cash position as reported on March 31, 2026. Management believes the current market value does not fully reflect the Company's underlying assets and performance, making the deployment of digital assets for share buybacks an allocation of capital that demonstrates confidence in its long-term prospects and could enhance shareholder value.
Completed Transfer to Nasdaq Capital Market and Received an Additional 180-day Compliance Period
On July 1, 2026, Canaan completed the transfer of the listing of its American Depositary Shares from the Nasdaq Global Market to the Nasdaq Capital Market. The Company also applied for an additional 180-day compliance period to regain compliance with Nasdaq's minimum bid price requirement while continuing to execute its long-term energy-plus-compute strategy. On July 15, 2026, the Company announced that it received written notification from The Nasdaq Stock Market LLC granting the Company an additional 180-day compliance period, or until January 11, 2027, to regain compliance with Nasdaq's minimum bid price requirement under Listing Rule 5550(a)(2). The Company satisfies the continued listing requirement for market value of publicly held shares and all other applicable listing requirements for initial listing on the Nasdaq Capital Market, except for the minimum bid price requirement. The notification has no immediate effect on the listing or trading of Canaan's ADSs, which will continue trading on the Nasdaq Capital Market under the symbol "CAN." To regain compliance, the closing bid price of the Company's ADSs must reach at least
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
Media Contact
BlocksBridge Consulting
Jesse Colzani
Email: canaan@blocksbridge.com
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SOURCE Canaan Inc.