Canaan secures US$13.9 million from crypto sales
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- Canaan released its August 2026 update, reporting the mining of 44 Bitcoin and the sale of US$13.9 million in digital assets.
- The company utilized US$5.4 million of the cash proceeds to repurchase approximately 13.6 million American Depositary Shares.
- The company expects to continue advancing its infrastructure, noting that installation is underway for its Canadian compute heat recovery greenhouse.
Canaan (NASDAQ:CAN) released its August 2026 update, mining 44 Bitcoin and securing US$13.9 million from asset sales.
The company monetized 3,952 Ether and 54 Bitcoin to fund its corporate share repurchase program.
The firm deployed US$5.4 million of those proceeds to repurchase approximately 13.6 million American Depositary Shares.
The company stated its global installed computing power reached 14.96 EH/s across 13 active mining projects.
The company reported an average joint mining revenue split of 60.6% and an all-in power cost of US$0.043/kWh.
The firm noted that computing equipment for its Canadian greenhouse project arrived and installation is underway.
