Canaan Q2 Revenue Falls 49% to $31.9M as BTC Treasury Hits Record 1,915
Singapore – September 11, 2026 -- Canaan Inc. (NASDAQ: CAN) reported unaudited second-quarter 2026 total revenue of US$31.9 million, down 49% from US$62.7 million in Q1 2026 and 68% below the US$100.2 million recorded in Q2 2025, as bitcoin price weakness and seasonal power constraints hit mining-rig demand.
Digital asset treasury climbs to a record 1,915 BTC and 3,952 ETH
Canaan's cryptocurrency treasury reached its highest level to date at quarter-end, even as the company posted a gross loss of US$29.3 million, widening from a US$22.9 million gross loss in Q1 2026 and reversing a gross profit of US$9.3 thousand in Q2 2025. The company mined 243 bitcoins during the quarter and sold 2.5 EH/s of computing power.