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

Odaily Planet Daily News According to Canaan Inc.'s announcement, the company's revenue for the first quarter of 2026 was $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, with a total installed computing power of 11 EH/s for its joint mining projects, 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, and advanced its Nordic "Computing Power to Heat" project, planning to deploy 8MW of water-cooled mining machine infrastructure. Canaan expects its second-quarter 2026 revenue to be between $35 million and $45 million.