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Canaan Reports $62.7M Q1 2026 Revenue, Crypto Reserves Hit All-Time Highs

GateNews

Industry Reports Stocks

2026-05-19 10:56:24

BTC-0.01%

ETH0.1%

According to ChainCatcher, Canaan Inc. reported Q1 2026 revenue of $62.7 million on May 19, with net loss of $88.7 million. As of March 31, the company's cryptocurrency reserves reached all-time highs of 1,807.6 Bitcoin and 3,951.53 Ethereum.

The mining firm's combined hashrate across ten projects stood at approximately 11 EH/s, up 10.7% sequentially, with 257 BTC produced in Q1. Canaan also acquired a 49% stake in Cipher Mining's West Texas ABC project, operating at 4.4 EH/s. For Q2 2026, the company guided revenue between $35 million and $45 million.

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