Canaan Inc. Provides January 2026 Bitcoin Production and Mining Operation Updates

Core Insights - Canaan Inc. achieved a record high cryptocurrency treasury of 1,778 BTC and 3,951 ETH, demonstrating strong operational performance despite macroeconomic challenges [1][2] - The company's deployed global hashrate exceeded 10 EH/s, with an operating hashrate of 6.63 EH/s at the end of January 2026 [1][3] Financial Performance - In January 2026, Canaan mined 83 BTC, contributing to a total of 1,778 BTC and 3,951 ETH owned by the company [3] - The average revenue split for the month was 58.2%, with an average all-in power cost of US$0.043 per kWh [3][6] Operational Efficiency - The global average miner efficiency improved to 24.2 J/TH, with North America averaging 19.3 J/TH and non-North America averaging 29.0 J/TH [4] - The month-end installed power capacity reached 253.3 MW, with 95.7 MW in North America and 157.5 MW globally [4] Strategic Initiatives - Canaan is focused on advancing energy reuse and expanding into the home mining segment, which is expected to offer attractive margins with limited capital intensity [2] - The company announced a 3 MW proof-of-concept project in Manitoba, Canada, aimed at recovering heat from computing systems for greenhouse operations, targeting 95% uptime [9] Shareholder Engagement - Canaan's board approved a US$30 million share buyback program, with approximately 2.8 million ADSs repurchased for a total of US$2 million as of February 10, 2026, reflecting management's confidence in the company's financial position [10]