Canaan Inc. Provides June 2026 Bitcoin Production and Mining Operation Updates
Rhea-AI Summary
Canaan (NASDAQ: CAN) reported its unaudited June 2026 bitcoin mining update. The company produced 64 BTC in the month. After operating costs and receiving BTC as payment for miner sales, Canaan added 49 BTC to its treasury, bringing total holdings to a record 1,915 BTC and 3,952 ETH, according to Canaan.
Month-end installed hashrate reached 10.05 EH/s for non-JV and 4.81 EH/s for its 49%-owned JV, with operating hashrate of 3.36 EH/s (non-JV) and 4.09 EH/s (JV). Average all-in power cost was US$0.043/kWh, and the North American non-JV fleet ran at 17.9 J/TH. JV operations with partner WindHQ largely recovered from May wildfire disruptions. Canaan also highlighted a transfer of its ADS listing to the Nasdaq Capital Market, insider purchases totaling 1,065,000 ADSs at US$0.35 per ADS, and an 8 MW hash-to-heat project win in the Nordic region.
Positive
- 64 BTC mined in June 2026, adding 49 BTC to treasury
- Record cryptocurrency holdings of 1,915 BTC and 3,952 ETH at June-end
- Low average all-in power cost of US$0.043/kWh in June
- JV operating hashrate at 4.09 EH/s versus 4.81 EH/s installed, showing substantial recovery
- CEO and CFO bought 1,065,000 ADSs at US$0.35 each in open market
- Won Nordic hash-to-heat project scaling from 2 MW to about 8 MW capacity
Negative
- Transfer from Nasdaq Global Market to Nasdaq Capital Market and need for additional 180-day bid-price compliance period
- Ethiopia operating computing power reduced after mid-June due to local power grid maintenance
News Market Reaction – CAN
In the Jul 14 session, CAN declined 3.59%, reflecting a moderate negative market reaction. Argus tracked a trough of -2.8% from its starting point during tracking. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Previous Crypto Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| 2026-06-11 | Monthly mining update | Neutral | +2.9% | Reported May 2026 bitcoin production, higher efficiency, and expanded mining infrastructure. |
| 2026-05-19 | Conference participation | Neutral | -13.6% | Joined Bitcoin 2026 roundtable on home mining, decentralization, and energy synergy. |
| 2026-05-14 | Monthly mining update | Neutral | +4.0% | Shared April 2026 BTC production, record treasury balances, and improved fleet efficiency. |
| 2026-04-15 | Monthly mining update | Neutral | +7.5% | Outlined March 2026 BTC output, record crypto holdings, and power capacity growth. |
| 2026-03-10 | Monthly mining update | Neutral | -6.2% | Released February 2026 BTC production, treasury levels, JV acquisition and added capacity. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent crypto‑tagged mining updates have produced mixed single‑day reactions, with an average move of -1.07% around similar disclosures.
Key Terms
hashrate technical
eh/s technical
minimum bid price financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Joint venture hashrate recovers significantly, approaches full-installed capacity
Management Commentary
"June was a month of consolidation and recovery, and we remained focused on disciplined execution across our mining operations," said Nangeng Zhang, chairman and chief executive officer of Canaan. "During the month, we produced 64 BTC. Despite grid maintenance at one of our facilities, after accounting for operating costs and the receipt of BTC as payment for our miner sales in June, we recorded our strongest monthly increase of 2026, adding 49 BTC to our cryptocurrency treasury. Our total cryptocurrency holdings reached a record 1,915 BTC and 3,952 ETH. Meanwhile, we maintained our North American non-JV fleet efficiency at 17.9 J/TH, underscoring our disciplined approach to operational excellence and cost management despite challenging market conditions."
Zhang continued, "We'd also like to thank our joint venture partner, WindHQ, for their strong execution in restoring operations following the wildfire-related disruptions that affected our Alborz facilities in May. By June, our joint venture had substantially resumed operating, a strong recovery that we're proud to see reflected in this month's results."
"Looking ahead, we remain committed to advancing our vertically integrated strategy and capturing opportunities emerging at the intersection of energy and compute. We believe our integrated capabilities provide a strong foundation for long-term growth. Disciplined execution remains the foundation of our strategy as we expand our capabilities across bitcoin mining and broader compute infrastructure to drive sustainable long-term shareholder value."
June 2026 Bitcoin Mining Updates (unaudited)
Key Metrics | Results (Rounded Numbers) |
Bitcoins Mined During the Month | 64 BTC |
Month-End Bitcoins and ETH Owned by Canaan | 1,915 BTC |
Month-End Installed Hashrate (EH/s) | Non-JV: 10.05 EH/s |
Month-End Operating Hashrate (EH/s) | Non-JV: 3.36 EH/s |
Month-End Average Revenue Split[2] | |
Average All-in Power Cost During the Month[3] |
June 2026 Bitcoin Mining Infrastructure Updates (unaudited)
Non- | Global | ||
Month-End Average | Non-JV: 17.9 J/TH | 29.3 J/TH | Non-JV: 23.7 J/TH |
Month-End Installed | Non-JV: 88.7 MW | 157.5 MW | Non-JV: 246.2 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 June 30, 2026): | |||||
Regions | Active | Operating | Installed | Expected | Estimated |
Global | 12 | 7.45 EH/s | 14.86 EH/s | 0.10 EH/s | 14.96 EH/s |
America | 4 | 2.90 EH/s | 4.90 EH/s | 0.00 EH/s | 4.90 EH/s |
JV-WindHQ | 3 | 4.09 EH/s | 4.81 EH/s | 0.00 EH/s | 4.82 EH/s |
1 | 0.00 EH/s | 0.06 EH/s | 0.10 EH/s | 0.16 EH/s | |
2 | 0.36 EH/s | 4.96 EH/s | 0.00 EH/s | 4.96 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.
9. The decrease in Operating Computing Power in
Recent Corporate Updates:
Completed Transfer to Nasdaq Capital Market
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, with no impact on trading under the ticker symbol "CAN." 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.
Announced CEO and CFO's Open Market Share Purchases
On June 24, 2026, the Company announced that its chairman and chief executive officer, Nangeng Zhang, and chief financial officer, Jin "James" Cheng, recently purchased additional shares of the Company's stock in the open market. The executive team together acquired a total of 1,065,000 ADSs of the Company at an average price of
Won Competitive Bid to Provide Hash-to-Heat Equipment to Nordic District Heating Network
On May 19, 2026, the Company announced that it had been selected to support a district heating network in the Nordic region with a combined capacity of approximately 8 MW. The project utilizes the Company's Avalon A1566HA hydro-cooled units and leverages Canaan's proprietary semiconductor and system design technologies to support dynamic overclocking and underclocking, enabling the stable delivery of hot water at temperatures of approximately 80 degrees Celsius for integration into existing district heating infrastructure. The project builds upon a successful initial deployment of approximately 2 MW, which is currently operating and supplying hot water to local residents. Following the strong performance of the first phase, the Customer placed a follow-on order in March 2026 for an additional 6 MW of capacity. This deployment further demonstrates the commercial viability of the Company's hash-to-heat technology and its potential to accelerate the replacement of legacy heating systems, while creating value beyond traditional bitcoin mining applications through energy-efficient heating solutions.
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
View original content:https://www.prnewswire.com/news-releases/canaan-inc-provides-june-2026-bitcoin-production-and-mining-operation-updates-302825099.html
SOURCE Canaan Inc.