Canaan Inc. Updates Bitcoin Mining Operations for August 2026
Canaan Inc., a provider of compute and energy infrastructure, reported its unaudited bitcoin mining update for the month ending August 31, 2026. The company mined 44 BTC during the period while maintaining an installed hashrate of 10.05 EH/s outside joint ventures (non-JV) and 4.92 EH/s within its joint venture operations in West Texas. In late August, Canaan sold all of its Ethereum holdings—3,952 ETH—and 54 BTC at prices averaging $2,400 per ETH and $79,000 per BTC respectively, generating approximately $13.9 million in cash. The company used part of the proceeds to repurchase around 13.6 million American Depositary Shares (ADSs), bringing total share buybacks since January 2026 to about 16.4 million. Canaan also began installing computing equipment at its Canadian greenhouse heat recovery project ahead of winter, aiming to integrate compute and energy operations further.
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