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#Canaan

2 Stories Found

Coins•20h ago

Canaan May Sell More Bitcoin for Stock Buybacks as Mining Rig Revenue Plunges 96%

Key Highlights Canaan launched a $20 million share buyback using cryptocurrency holdings amid a sharp collapse in mining-machine revenue. The Bitcoin mining-equipment maker’s hardware revenue fell 96% year over year to $4.8 million in the third quarter. Canaan shares have declined about 75% this year, while its cryptocurrency treasury remains partly tied up. Canaan Launches ...

3 min readRead

Coins•Nov 10, 2026

Canaan Posts $8M Q3 Profit Despite $42.9M Operating Loss

Key Highlights: Canaan posted a GAAP net income of US$7.96 million for Q3 2026, though the underlying business incurred an operating loss of US$42.9 million alongside a 90.3% year-over-year revenue plunge to US$14.5 million. Out of Canaan’s 1,875.5 Bitcoin treasury, approximately two-thirds are encumbered—with 1,258 Bitcoin pledged as collateral for secured term loans and 100 ...

7 min readRead