Canaan Inc. Updates on Bitcoin Mining and Treasury
News related to:Canaan Inc · 2 min read
SINGAPORE, Oct. 15, 2026 /CourierPR/ -- Canaan Inc., an innovator in compute and energy infrastructure, has provided its latest updates on the month ending September 30, 2026. The company's Treasury now holds 1,875 Bitcoin, with 44 BTC mined in September alone. Management Commentary from Nangeng Zhang, chairman and chief executive officer, highlighted the resilience of Bitcoin markets in September, despite macroeconomic and policy uncertainties. Despite rising network difficulty, Canaan's non-Joint Venture (JV) installed hashrate remained stable at 10 EH/s, and the company mined 44 BTC in September, bringing its total holdings to 1,875 BTC at month-end.
Zhang also noted the progress in the company's integrated computing and energy strategy. The 8 MW Nordic district heating project, which Canaan had been working on, is now fully operational, delivering recovered computing heat to approximately 2,800 homes. In Canada, the company's greenhouse heat recovery project is moving toward planned deployment, pending the completion of site inspections. These milestones reinforce the potential of the company's technology to bridge computing and energy infrastructure through heat reuse initiatives.
Looking ahead, Canaan Inc. will continue to build on this momentum by advancing its computing and energy initiatives and pursuing opportunities that translate its capabilities into results. The company remains committed to disciplined execution and sustainable long-term value creation for its shareholders.
Recent Corporate Updates also revealed that Canaan Inc. had authorized its management to monetize a portion of its digital asset treasury to fund repurchases of its American Depositary Shares (ADSs). As of October 15, 2026, the company had monetized 3,952 ETH and 54.5 BTC for approximately US$13.9 million in cash. The company has deployed US$5.4 million to repurchase 13.6 million ADSs in late August. Year-to-date, the company repurchased a total of approximately 16.4 million ADSs.
Canaan Inc. has also announced its intention to invest in a 49% stake in the Alborz, Bear, and Chief Mountain facilities in West Texas, which will be included in the Company's installed hashrate. The company's hashrate remains part of its installed hashrate in Ethiopia, where mining operations have been paused.