Canaan Inc. Updates on Bitcoin Mining Operations for September 2026

Canaan Inc. (NASDAQ: CAN), a leader in computing and energy infrastructure, has released its unaudited updates regarding bitcoin mining operations for the month ending September 30, 2026. With a strong grasp on the ever-evolving bitcoin market, the company achieved significant milestones, including stable production results amid a challenging economic landscape.

Resilience in Bitcoin Markets

Canaan's Chief Executive Officer, Nangeng Zhang, commented on the company's performance in the bitcoin industry during September. The bitcoin markets displayed remarkable resilience, effectively maneuvering through macroeconomic uncertainties. Zhang noted that institutional participation remained robust during this period. He remarked, "Hashprice has begun to recover since August, indicating significantly improved mining economics. This development provides a cautiously optimistic outlook for the market."

Mining Performance Indicators

For the month of September, Canaan successfully mined 44 BTC, increasing its total bitcoin reserves to 1,875 BTC at month’s end. During this period, the total installed non-JV hashrate was reported at 10 EH/s, even with a notable rise in network difficulty. Additionally, joint venture operations also exhibited stable performance, with an installed hashrate of 4.87 EH/s and an operating hashrate of 4.18 EH/s as of the end of the month.

Integrated Computing and Energy Strategy

The company is progressing with its integrated computing strategy that synergizes computing with energy through innovative projects. One standout achievement announced is the commencement of operations for its 8 MW Nordic district heating project. This initiative is notable as it recovers computing heat to supply approximately 2,800 homes in the region. In parallel, Canaan's greenhouse heat recovery project in Canada is also moving toward deployment, awaiting the completion of necessary site inspections. Zhang emphasized, "These developments underscore our commitment to merging technology with energy efficiency, showcasing our capacity for bridging these essential infrastructures."

Financial Outlook and Future Strategies

Looking forward, Canaan remains focused on expanding its computing and energy initiatives, ensuring that the benefits of these technological advancements are translated into real-world outcomes. The company intends to maintain its disciplined approach towards execution. As part of its ongoing strategy to enhance shareholder value, Canaan has been actively repurchasing its American Depositary Shares (ADS) utilizing a segment of its digital asset treasury. They believe that this represents a strategic capital allocation that signifies confidence in Canaan’s long-term growth potential.

In August 2026, Canaan authorized the monetization of a part of its digital asset treasury, resulting in notable asset sales including 3,952 ETH and 54.5 BTC for approximately $13.9 million. This strategic approach to share repurchase has already seen about 16.4 million ADSs repurchased year-to-date.

Conclusion

In summary, Canaan Inc. has demonstrated a solid footing in the bitcoin mining sector, navigating challenges while maintaining steady performance. With strategic projects underway, the company is poised for continual growth in both computing and energy innovations. As they advance their initiatives, commitment to sustainability, and shareholder value remains paramount, positioning Canaan favorably within the competitive landscape of the bitcoin industry.

To learn more about Canaan’s innovative technologies and their impact on the bitcoin market, visit Canaan's official website.