Singapore – October 15, 2026 -- Canaan Inc. (NASDAQ: CAN) mined 44 bitcoin in September 2026, lifting its treasury to 1,875 BTC at month-end, while its 8 MW Nordic district heating project became fully operational.
The company's non-JV installed hashrate held steady at 10 EH/s despite rising network difficulty. Its joint venture operations reported installed hashrate of 4.87 EH/s and operating hashrate of 4.18 EH/s at month-end. The JV represents Canaan's 49% stake in the Alborz, Bear and Chief Mountain facilities in West Texas, and its metrics are excluded from bitcoin production and average all-in power cost calculations. Canaan has paused mining in Ethiopia, though that hashrate remains part of installed hashrate.
Nordic heat-recovery project now supplies about 2,800 homes
The 8 MW Nordic district heating project delivers recovered computing heat to approximately 2,800 homes. In Canada, a greenhouse heat recovery project is moving toward planned deployment, pending completion of site inspections.
Chairman and CEO Nangeng Zhang said hashprice extended its recovery from August, which he described as a cautiously encouraging sign for mining economics.
Canaan monetizes 3,952 ETH and 54.5 BTC to fund buybacks
On August 4, 2026, Canaan authorized management to monetize part of its digital asset treasury to fund repurchases of its ADSs under the share repurchase program its board approved on December 12, 2025. Management said the current market value does not fully reflect the company's underlying assets and performance.
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 total approximately 16.4 million ADSs.