Canaan Inc. Q1 Revenue Reaches $62.7 Million, Expects Q2 Revenue Between $35 Million and $45 Million

Odaily reported that according to a Canaan Inc. announcement, the company's Q1 2026 revenue reached $62.7 million, in line with previous guidance, with a net loss of $88.7 million. As of March 31, the company held 1,807.6 BTC and 3,951.53 ETH. Its joint mining project achieved a total installed hash rate capacity of 11 EH/s, producing 257 BTC during the quarter. During the same period, the company acquired a 49% stake in Cipher Mining's Texas ABC project, adding approximately 4.4 EH/s of operational capacity. Additionally, it is advancing a "heat reuse from computing power" project in Northern Europe, planning to deploy an 8MW water-cooled mining machine infrastructure. Canaan expects Q2 2026 revenue to be between $35 million and $45 million.