Canaan reports bitcoin mining expansion across 13 global projects

Canaan Inc. (NASDAQ: CAN) reported operating results for April 2026, showing the company mined 90 bitcoin during the month and held 1,826 bitcoin and 3,952 Ethereum on its balance sheet by month-end, according to a company statement.

The bitcoin mining company's installed hashrate reached 10.97 exahashes per second (EH/s) by the end of April, representing a 34.6% increase from the previous year. Operating hashrate was 6.86 EH/s, up 10.6% year-over-year. These figures exclude joint venture operations.

Canaan operates 13 active mining projects across five countries, expanding from nine projects since April 2025. The company's joint venture operations contributed approximately 48 bitcoin during April and reached 4.82 EH/s of installed hashrate and 4.35 EH/s of operating hashrate.

The company's global fleet efficiency improved to 23.6 joules per terahash (J/TH) from 27.4 J/TH in April 2025. Average all-in power costs were $0.044 per kilowatt-hour during the month.

Canaan's mining operations span North America, Ethiopia, Canada, Malaysia, and the Middle East. The company's North American operations, excluding joint ventures, showed 108.8 MW of installed power capacity with 18.7 J/TH efficiency.

The company announced a follow-on order from Tether for high-density mining hash board modules on April 28, 2026. The custom-developed modules will support immersion-cooled mining and computing systems for deployment at a Tether-affiliated facility in South America.

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