Canaan Inc.

Canaan Inc. to Exhibit at BTCHEL Conference: Showcasing Hash-to-Heat Solutions from District Networks to Home Solutions

Canaan will exhibit its hash-to-heat solutions at the BTCHEL conference in Helsinki on September 25-26. Its roughly 8 MW Nordic district heating installation using Avalon A1566HA hydro-cooled units is fully online, delivering heat to approximately 2,800 homes as of September 2026. The company will also showcase its consumer Avalon Home Miner lineup — Nano 3S, Mini 3, and AvalonQ — positioning Bitcoin mining as a residential heat source.

•1mo ago

Canaan Inc. Provides August 2026 Bitcoin Production and Mining Operation Updates

Canaan mined 44 BTC in August and ended the month with 1,868 BTC on balance sheet, holding non-JV installed hashrate flat at 10.05 EH/s at a competitive all-in power cost of $0.043/kWh. The company sold its entire Ethereum treasury of 3,952 ETH plus 54 BTC at average prices of roughly $2,400 per ETH and $79,000 per BTC, generating about $13.9 million in cash. It deployed $5.4 million of the proceeds to repurchase 13.6 million ADSs in late August, bringing year-to-date buybacks to approximately 16.4 million ADSs. Ethiopia mining operations remain paused with 4.96 EH/s of installed hashrate idle, while equipment for the Canadian compute heat recovery greenhouse project has arrived on site ahead of the winter heating season. Management framed the treasury monetization as disciplined capital allocation, arguing the current market value does not fully reflect the company's underlying assets.

•1mo ago

Canaan Inc. to Repurchase Shares Using Portion of Digital Asset Treasury

Canaan Inc. authorized the monetization of its digital asset treasury to fund repurchases of its American depositary shares under an existing Board authorization from December 2025. The company noted that its market capitalization is trading below the combined value of its digital assets and cash holdings, which included approximately US$130 million in digital assets as of August 3, 2026. CEO Nangeng Zhang characterized the decision as a disciplined capital allocation strategy aimed at creating long-term shareholder value while maintaining a strategic asset treasury.

•3mo ago

Canaan Inc. Announces Open Market Share Purchases by Chief Executive Officer and Chief Financial Officer

Canaan Inc. announced that Chairman and CEO Nangeng Zhang and CFO Jin "James" Cheng acquired a total of 1,065,000 American Depositary Shares in the open market at an average price of $0.35 per share. Management stated that the purchases reinforce their alignment of interests with shareholders and reflect confidence in the company's long-term strategy. Zhang highlighted the convergence of energy and compute as a key value driver, noting Canaan's positioning in hardware innovation and mining infrastructure.

•4mo ago

Canaan Inc. Provides May 2026 Bitcoin Production and Mining Operation Updates

Canaan mined 90 BTC in May 2026, bringing its total cryptocurrency treasury to a record high of 1,867 BTC and 3,952 ETH. Operational efficiency improved significantly, with North American fleet efficiency reaching 17.9 J/TH (up ~11% YoY) and global average efficiency at 23.7 J/TH (up 13.5% YoY). The company secured a new 8 MW hash-to-heat contract in the Nordic region and a follow-on order from Tether for high-density mining modules, signaling diversification beyond traditional mining.

•4mo ago

Canaan Inc. Extends Collaboration with Tether on New Form Factors for Mining and Compute Systems

Canaan Inc. secured a follow-on order from Tether for its custom-developed high-density mining hash board modules designed for next-generation immersion-cooled systems. The modular hardware, developed under a 2025 framework agreement with ACME Swisstech, enables higher compute density and simplified maintenance by decoupling the compute layer from power supplies. The order is destined for a Tether-affiliated mining facility in South America, with an option for Tether to purchase additional volume in future phases.

•6mo ago