#Cryptocurrency #Singapore #Bitcoin Mining #Canaan Inc.

Canaan Inc. Reports Significant Gains in Bitcoin Production

Canaan Inc., a prominent player in the cryptocurrency mining sector, has shared its latest unaudited bitcoin mining achievements for April 2026. Management has indicated that this month marks a pivotal recovery period for the company, aiming to reinforce its foundation for sustainable growth amid challenging market conditions.

Record High Cryptocurrency Holdings

In April, Canaan's self-mining operations yielded 90 BTC, complemented by an additional 3 BTC from customer payments. This boosted the company's total cryptocurrency reserves to an all-time high, boasting 1,826 BTC along with 3,952 ETH by the month's end. The growth in holdings signifies not only operational efficiency but also prudent management in navigating difficult market conditions. April's focus was proven essential for long-term growth, as reported by Nangeng Zhang, the company's chairman and CEO.

Hashrate Increases and Efficiency Improvements

The month was also marked by impressive performance metrics for hashrate. Canaan's installed hashrate surged by 34.6% year-over-year, achieving 10.97 EH/s—excluding any contributions from joint ventures. The total operating hashrate also showed robust growth at 6.86 EH/s, reflecting a 10.6% increase compared to the previous year. Enhancements in the company’s global fleet efficiency were evident, with significant reductions in energy consumption per terahash (J/TH) from 27.4 J/TH to 23.6 J/TH since April 2025.

The company's ambitious expansion of active mining projects saw an increase from 9 to 13 across 5 countries, illustrating Canaan's commitment to growth through both self-mining initiatives and collaborative ventures.

Joint Venture Operations and Future Outlook

Canaan's ongoing joint venture operations are also proving beneficial, with approximately 4.82 EH/s of installed hashrate being contributed, supported by a power capacity of 120 MW. The collaborative projects are designed to enhance Canaan's overall operational capacities and deliberate strategic growth. With the focus on disciplined execution, Canaan aims to provide consistent, sustainable shareholder value across its operations.

Zhang emphasized the importance of these partnerships going forward, stating, "As our joint venture operations continue coming online, Canaan will further strengthen its broader energy and compute infrastructure platform."

Looking Ahead

Moving forward, Canaan is concentrating on careful execution and responsible scaling of operations. The company's proactive measures aim to capitalize on improving market conditions that favor disciplined operators, positioning itself strongly within the cryptocurrency landscape.

Collaborations and Innovations

Adding to its growth narrative, Canaan announced a significant collaboration with Tether to develop new high-density mining hash board modules tailored for immersion-cooled computing systems. This partnership builds on the success of a 2025 proof-of-concept project, emphasizing the trend toward modular architectures within the cryptocurrency mining infrastructure. The follow-on order is set for deployment in a Tether-associated mining facility located in South America.

Canaan Inc. continues to innovate and expand its scope within the crypto mining industry, showcasing a commitment to leveraging cutting-edge technology while navigating the complexities of a rapidly evolving market. With these advancements, the company stands ready to meet the challenges of the future, ensuring consistent growth and operational excellence.

Conclusion

As Canaan Inc. continues to bolster its bitcoin and ETH reserves while enhancing global mining efficiencies, stakeholders can remain optimistic about the company's strategic direction and the promising position it holds in the cryptocurrency space. The April updates are just the beginning of what promises to be an exciting journey for Canaan as it aims to solidify its standing in the ever-competitive mining landscape.