#United States #Texas #Bitcoin Mining #Canaan Inc. #Crypto Innovation

Canaan Inc. February 2026 Bitcoin Mining Update

As Canaan Inc. (NASDAQ: CAN), a leading innovator in the cryptocurrency mining sector, reveals its February 2026 bitcoin mining results, the firm emphasizes its commitment to integrating energy resources within its operational framework. CEO Nangeng Zhang noted that the company's focus on expanding its footprint in the United States plays a pivotal role alongside its ongoing operational excellence. In February, Canaan successfully mined 86 BTC, achieving an extraordinary total cryptocurrency treasury, now amounting to 1,793 BTC and 3,952 ETH, valued at approximately $128 million. This excludes digital assets held by the company's joint venture operations, showcasing their adept management of digital assets has contributed positively toward balancing their financial health.

Strategic Energy Integration

Canaan has demonstrated a strategic expansion in its energy strategy by establishing a joint venture in West Texas. Zhang highlighted that this not only scales their operational capabilities but also enhances their integration with superior power resources. The recent mining fleet expansion has propelled their deployed hashrate to 14.75 EH/s, inclusive of 4.4 EH/s from new acquisitions like the Alborz and Bear data centers. This acquisition further consolidates Canaan’s North American presence while significantly increasing their operational power capacity to 120 MW at competitive average rates of below $0.03/kWh.

Robust Performance Metrics

The performance metrics for February paint a compelling picture of Canaan's mining success. The company recorded the following:

• - Bitcoins Mined in February: 86 BTC
• - Total BTC Holdings: 1,793 BTC
• - Total ETH Holdings: 3,952 ETH
• - Deployed Hashrate: 14.75 EH/s
• - Average Revenue Split: 59.0%.

Furthermore, their mining efficiency reflects the company’s operational prowess, achieving an average efficiency of 19.2 J/TH for non-joint venture operations. Their all-in power cost averaged at $0.044/kWh for this month, a key metric for operational sustainability.

Current Mining Projects

Canaan’s ongoing projects continue to reflect their ambitious growth trajectory. Active projects around the globe encompass a total operational capacity nearing 15.07 EH/s, which includes four operational sites in Texas under the joint venture framework. These expansions not only increase their mining capabilities but also position Canaan as a front-runner amid the evolving dynamics of the cryptocurrency market.

Leadership Growth Strategy

In an effort to showcase confidence in the company's long-term strategy and align management with shareholder interests, Canaan's CEO and CFO recently increased their shareholdings through open market purchases, showcasing faith in the company's strategic growth. The acquisition of Cipher Mining's 49% interest in the ABC Projects reinforces Canaan’s mission to enhance its operations in Texas while also building a robust platform for energy arbitrage within the ERCOT grid.

Conclusion

Canaan Inc.'s updates for February 2026 highlight its commitment to growing its mining operations rigorously. With innovative strategies and ambitious expansion plans in the face of market volatility, Canaan is reinforcing its position as a leader in energy-integrated digital infrastructure. As the company ties its operational strategies with energy resource management, it sets a precedent in the cryptocurrency mining industry that others may strive to emulate. With growing market dynamics, the future looks promising for Canaan as it continues to navigate and thrive in the competitive landscape of cryptocurrency mining.