Canaan Inc.’s SEC filings document a foreign private issuer whose business centers on ASIC chip design, Avalon mining equipment, computing hardware, software services, and bitcoin mining operations. Its Form 20-F annual reports and Form 6-K current reports disclose operating results, mining production metrics, cryptocurrency treasury balances, power capacity, fleet efficiency, customer and R&D collaborations, and risk-related business updates.
The filings also record ADS and Class A ordinary share matters, registration-statement incorporation, open-market management purchases, share repurchase activity, beneficial ownership references, and material transactions such as Canaan’s completed acquisition of interests in the Alborz, Bear and Chief Mountain mining projects. Other current reports address Nasdaq minimum bid-price notifications and foreign-issuer governance and reporting obligations.
Canaan Inc. (CAN) reported unaudited September 2026 mining results: it mined 44 BTC and held 1,875 BTC on its balance sheet at month-end. Non-JV installed and operating hashrate were each 10.00 EH/s; joint-venture installed hashrate was 4.87 EH/s and operating hashrate was 4.18 EH/s. Average all-in power cost was US$0.043/kWh.
Canaan’s 8 MW Nordic district-heating project is fully operational, delivering recovered computing heat to approximately 2,800 homes. Its Canadian greenhouse heat-recovery project is moving toward planned deployment, pending completion of site inspections. As of October 15, 2026, Canaan had monetized 3,952 ETH and 54.5 BTC for approximately US$13.9 million in cash. It deployed US$5.4 million to repurchase 13.6 million ADSs in late August; year-to-date repurchases totaled approximately 16.4 million ADSs.
Canaan Inc. (CAN) reported its unaudited bitcoin mining and operations update for August 2026, highlighting both production and capital allocation moves. The company mined 44 BTC during the month and ended August with a non-joint-venture installed hashrate of 10.05 EH/s and joint-venture installed hashrate of 4.92 EH/s, supported by an average all-in power cost of US$0.043/kWh. Month-end digital asset holdings were 1,868 BTC and no ETH.
Canaan converted part of its digital asset treasury into cash by selling 3,952 ETH and 54 BTC at average prices of about US$2,400 per ETH and US$79,000 per BTC, generating roughly US$13.9 million. It used US$5.4 million of this to repurchase approximately 13.6 million ADSs, bringing total ADSs repurchased this year to about 16.4 million. The company also noted that computing equipment has arrived and installation is underway at its Canadian compute heat recovery greenhouse project, supporting its strategy to build an integrated computing and energy platform.
Canaan Inc. (CAN) reports unaudited results for the six months ended June 30, 2026, showing a sharp contraction in activity and higher losses. Total revenues were US$94.6 million, down from US$183.0 million a year earlier, as product revenue and mining revenue both declined. The company swung from a gross profit of US$10.0 million to a gross loss of US$52.2 million, driven by lower sales and a much larger inventory write-down of US$44.0 million, plus additional write-downs on prepayments and reserves for foundry purchase commitments.
Net loss widened to US$186.4 million from US$97.5 million, reflecting negative fair value movements on cryptocurrency (a US$34.2 million loss) and derivatives (a US$24.9 million loss), impairment of mining equipment of US$9.2 million, and equity-method losses of US$3.9 million. Cash used in operating activities improved to US$51.9 million from US$199.6 million, and cash on hand was US$66.0 million at June 30, 2026. Total assets fell to US$446.2 million and shareholders’ equity to US$292.7 million, partly due to continued losses and share repurchases.
The company expanded its mining infrastructure exposure by acquiring 49% stakes in three mining entities (the ABC Projects) and additional mining equipment, issuing 53.8 million ADSs as consideration, and accounting for these holdings under the equity method. Canaan continued to rely on Bitcoin-backed loan facilities, with current and long-term loans totaling US$58.8 million and associated pledged cryptocurrency and receivables on its balance sheet. The estimated useful life of mining equipment was extended from 1.5 to 2 years, reducing depreciation and decreasing net loss by US$7.4 million in the period.
Canaan Inc. (CAN) reported a very weak second quarter 2026, with total revenue of US$31.9 million, down sharply from US$62.7 million in the first quarter and US$100.2 million a year earlier, as lower bitcoin prices and softer rig demand reduced computing power sales and mining revenue.
The company recorded a net loss of US$97.6 million and a gross loss of US$29.3 million, driven by a US$25.3 million inventory-related write-down and reserves, a US$9.2 million impairment on property and equipment, and a US$18.2 million combined loss from fair value changes in cryptocurrency and derivatives. Non-GAAP adjusted EBITDA was a loss of US$74.9 million.
Despite the losses, Canaan highlighted operational metrics: its non‑JV installed mining power reached 10.05 EH/s, it produced 243 BTC in the quarter, and its digital asset treasury reached a record 1,915.5 bitcoins and 3,951.7 ether as of June 30, 2026. The company held US$66.0 million in cash and had repurchased 16.4 million ADSs for US$7.4 million under a US$30 million buyback program. For the third quarter 2026, Canaan expects total revenue to fall further to US$11–15 million, citing challenging market conditions.
Canaan Inc. reported its July 2026 bitcoin mining and infrastructure metrics and outlined recent capital markets actions. The company mined 46 BTC in July, ending the month with a digital asset treasury of 1,917 BTC and 3,952 ETH. Non-joint-venture operations in North America maintained an average miner efficiency of 17.9 J/TH, while joint-venture operations, recovering from prior wildfire-related disruption at Alborz, reached an operating hashrate of 4.20 EH/s and installed hashrate of 4.85 EH/s at month-end.
Across all operations, Canaan reported a month-end installed hashrate of 10.05 EH/s for non-joint-venture sites and an average revenue split of 60.6% (excluding joint-venture ownership). The average all-in power cost was US$0.043/kWh. Management highlighted a flexible treasury approach, including prior authorization to monetize a portion of digital assets to fund repurchases of American Depositary Shares under its existing share repurchase program.
Canaan also completed a transfer of its ADS listing from the Nasdaq Global Market to the Nasdaq Capital Market on July 1, 2026 and received an additional 180-day period, until January 11, 2027, to regain compliance with Nasdaq’s US$1.00 minimum bid price requirement. The company stated that its ADSs continue trading under the symbol CAN while it evaluates options to address the bid-price deficiency.
Invesco Ltd. reports beneficial ownership of Canaan Inc American Depository Receipts. Invesco, as a parent holding company to its investment advisers, may be deemed to beneficially own 606,006,750 shares, representing 5.4% of this class. These shares are held of record by Invesco’s clients.
Invesco reports sole voting power and sole dispositive power over all 606,006,750 shares, with no shared voting or dispositive power. No single client has greater than 5% economic ownership of the securities; as record holders, the relevant clients are entitled to dividends and sale proceeds. The filing identifies Invesco Capital Management LLC as the relevant subsidiary. The document is signed by Robert R. Leveille, Global Head of Compliance.
Canaan Inc. received an updated Schedule 13G/A from Weiss Asset Management LP, WAM GP LLC, and Andrew M. Weiss reporting a 5.2% beneficial ownership position in the company’s Class A ordinary shares. The group holds 38,900,282 American Depository Shares, each ADS representing 15 Class A ordinary shares, for a total of 583,504,230 Class A ordinary shares.
The reporting persons state they have shared voting and dispositive power over all 583,504,230 Class A ordinary shares and no sole voting or dispositive power. The ownership percentage is based on 11,237,922,873 Class A ordinary shares outstanding as of May 22, 2026. Weiss Asset Management, WAM GP, and Andrew Weiss each disclaim beneficial ownership except to the extent of their pecuniary interest.
Canaan Inc. authorized its management to monetize a portion of its digital asset treasury to fund repurchases of its American depositary shares under a share repurchase program approved by its board of directors effective December 12, 2025. Further repurchases using digital asset proceeds may occur depending on ADS trading price, market conditions, working capital needs and other factors, and remain subject to Board oversight and the limits of the existing authorization.
The company states it is trading below the combined value of its digital asset holdings and its cash and cash equivalents as of March 31, 2026. It held digital assets with an approximate market value of US$130 million based on prices as of August 3, 2026. Management characterizes this strategy as disciplined capital allocation and a signal of confidence in Canaan’s long-term prospects while maintaining a strategic digital asset treasury.
Canaan Inc. reports that Nasdaq granted an additional 180-day period, until January 11, 2027, to regain compliance with the minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2). The company currently meets other Nasdaq listing standards, including market value of publicly held shares.
The company's American Depositary Shares, each representing 15 Class A ordinary shares, continue to trade on the Nasdaq Capital Market under the symbol CAN following a transfer from the Nasdaq Global Market effective July 1, 2026. Compliance will be restored if the closing bid price is at least US$1.00 per ADS for a minimum of ten consecutive business days, and the company plans to monitor its bid price and evaluate available options during this second compliance period.
Canaan Inc. reported June 2026 operating metrics for its bitcoin mining and infrastructure business. The company mined 64 BTC during the month and, after operating costs and receiving BTC as payment for miner sales, increased its cryptocurrency treasury by 49 BTC to record holdings of 1,915 BTC and 3,952 ETH.
Non-joint-venture installed hashrate reached 10.05 EH/s with operating hashrate of 3.36 EH/s, while joint-venture operations with WindHQ operated at 4.09 EH/s against 4.81 EH/s installed, reflecting recovery after prior wildfire-related disruptions. Average all-in power cost was US$0.043/kWh, and North American non-JV miner efficiency was 17.9 J/TH.
Canaan completed a transfer of its ADS listing to the Nasdaq Capital Market and applied for an additional 180-day period to regain compliance with Nasdaq’s minimum bid price requirement. The CEO and CFO together bought 1,065,000 ADSs in the open market at an average of US$0.35 per ADS. The company also highlighted an approximately 8 MW Nordic district heating project using its hash-to-heat technology, building on an initial 2 MW deployment and a follow-on 6 MW order.