Canaan Inc. (NASDAQ: CAN) reported mining 89 bitcoin in March 2026 and reached record cryptocurrency holdings of 1,808 bitcoin and 3,952 ethereum, according to the company's monthly mining update released April 15.

The cryptocurrency mining company added over 10 megawatts to its network during March, bringing global installed power capacity to 266.3 megawatts. An additional 120 megawatts comes from recently acquired joint ventures in Texas.

The company's month-end deployed hashrate reached 10.97 exahash per second for non-joint venture operations and 4.4 exahash per second for joint venture operations. Operating hashrate for non-joint venture operations was 6.89 exahash per second.

Canaan improved fleet efficiency in North America to an average of 18.7 joules per terahash, while maintaining an average all-in power cost of $0.044 per kilowatt-hour during March. The company operates 13 active mining projects globally across North America, Canada, Ethiopia, the Middle East, and Malaysia.

In February, Canaan acquired Cipher Mining Inc.'s (NASDAQ: CIFR) 49% equity interest in joint ventures in West Texas comprising approximately 4.4 exahash per second of operational hashrate capacity. The transaction was completed through a non-cash equity issuance at approximately $0.74 per American depositary share, with total consideration of approximately $39.75 million.

Company executives also increased their shareholdings in March, with Chairman and CEO Nangeng Zhang and CFO Jin Cheng purchasing 1,456,547 American depositary shares in the open market at an average price of $0.51 per share.