Canaan Inc. Posts Q1 2026 Earnings: $62.7M Revenue, Crypto Reserves Hit Record High

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ETH-1.11%
Canaan Inc. released its Q1 2026 earnings report on May 19, showing total revenue of $62.7 million and net loss of $88.7 million. As of March 31, the company's crypto reserves reached record highs of 1,807.6 BTC and 3,951.53 ETH. In operations, the company's ten joint mining projects achieved combined hash rate capacity of approximately 11 EH/s, a 10.7% quarter-over-quarter increase, with 257 BTC produced in Q1. Canaan also acquired a 49% stake in Cipher Mining's Texas project, contributing 4.4 EH/s of operational hash rate capacity.
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