Canaan (NASDAQ:CAN), a leading provider of high-performance ASIC miners for cryptocurrency mining, today reported unaudited financial results for the fourth quarter and full year ended December 31, 2025.
Fourth-quarter revenue reached $196.3 million, increasing 121.1% year-over-year.
Full-year revenue totaled $529.7 million, up 96.7% from 2024.
Computing power sold hit a record 14.6 EH/s in the fourth quarter, bringing the full-year total to 36.5 EH/s.
Mining revenue for 2025 was $113.2 million.
Gross profit turned positive at $41.2 million for the year.
The company’s cryptocurrency treasury also grew to approximately 1,750 BTC and 3,951 ETH at year-end.
Meanwhile, fourth-quarter net loss was $85 million, primarily driven by fair-value adjustments and non-cash items.