Canaan mined 64 BTC in June, holds record 1,915 BTC on balance sheet

Canaan Inc. (NASDAQ: CAN) mined 64 bitcoin in June 2026 and added 49 BTC to its cryptocurrency treasury, according to an unaudited monthly mining update released by the company.

Total cryptocurrency holdings reached 1,915 BTC and 3,952 ETH at month-end. The company's North American non-joint venture fleet operated at an efficiency of 17.9 J/TH, with an average all-in power cost of $0.043/kWh during the month.

The joint venture with WindHQ, in which Canaan holds a 49% stake across the Alborz, Bear, and Chief Mountain facilities in West Texas, reported an operating hashrate of 4.09 EH/s against an installed hashrate of 4.81 EH/s at month-end, following wildfire-related disruptions in May. Non-JV operating hashrate stood at 3.36 EH/s against an installed hashrate of 10.05 EH/s.

A site in Ethiopia was temporarily taken offline in mid-June due to local power grid maintenance, reducing operating computing power in that region to 0.36 EH/s against an installed capacity of 4.96 EH/s.

On July 1, 2026, Canaan completed a transfer of its American Depositary Shares listing from the Nasdaq Global Market to the Nasdaq Capital Market. The ticker symbol "CAN" was unchanged. The company also applied for an additional 180-day compliance period to meet Nasdaq's minimum bid price requirement.

On June 24, 2026, Canaan disclosed that Chairman and CEO Nangeng Zhang and CFO Jin "James" Cheng purchased a combined 1,065,000 ADSs in the open market at an average price of $0.35 per ADS.

On May 19, 2026, the company announced it had been selected to supply hash-to-heat equipment to a district heating network in the Nordic region with a combined capacity of approximately 8 MW, using its Avalon A1566HA hydro-cooled units. A follow-on order for an additional 6 MW was placed in March 2026, building on an initial 2 MW deployment that is currently operational.

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