Canaan Inc. Reports Unaudited Third Quarter 2026 Financial Results

Canaan Inc. reported total revenue of US$14.5 million for the third quarter of 2026, which included US$4.8 million from product sales and US$9.5 million from mining operations. The company achieved a net profit of US$8 million, marking a reversal from the US$97.6 million net loss recorded in the second quarter of 2026 and the US$27.7 million net loss in the same period of 2025. Management noted that the revenue figure reached the upper end of its guidance range despite ongoing challenges in the bitcoin mining equipment market and intense industry competition.