Canaan Technology Q1 revenue of $62.7 million, expects Q2 revenue between $35 million and $45 million

According to an announcement from Canaan Inc. (Odaily), the company reported first-quarter 2026 revenue of $62.7 million, in line with previous guidance; net loss was $88.7 million. As of March 31, the company held 1,807.6 BTC and 3,951.53 ETH. The total installed computing power of its joint mining projects reached 11 EH/s, yielding 257 BTC in 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, and advanced the Nordic "computing power to heat" project, planning to deploy an 8MW water-cooled mining machine infrastructure. Canaan expects second-quarter 2026 revenue to be between $35 million and $45 million.