Product revenue from mining hardware accounted for $164.9 million in the quarter, up 124.5% year over year, as customers placed large orders to upgrade fleets and chase higher efficiency. The company said fourth-quarter computing power sales hit a record 14.6 exahash per second (EH/s), pointing to how quickly miners returned once economics improved.
Strategically, the company is pushing beyond pure hardware sales. Executives said Canaan is expanding into energy-compute infrastructure and household-focused products, while targeting gigawatt-scale power capacity in the United States by the end of 2026.
FAQ Why did Canaan’s revenue jump in Q4?A rebound in bitcoin mining hardware demand drove a surge in product sales. Did Canaan return to profitability?No, the company posted a net loss due mainly to noncash valuation charges. How large is Canaan’s crypto treasury?Canaan held about 1,750 BTC and 3,951 ETH at year’s end. What is Canaan’s outlook for early 2026?The company expects lower first-quarter revenue as orders normalize.
