Canaan Inc. May 2026 Bitcoin Mining Operations Update

Canaan Inc. filed a Form 6-K providing unaudited bitcoin mining updates for May 2026. The company reported mining 90 BTC during the month, with an additional 24 BTC from customer payments, bringing its cryptocurrency treasury to record highs of 1,867 BTC and 3,952 ETH. Canaan's North American mining fleet achieved a record efficiency of 17.9 J/TH, representing an 11% year-over-year improvement. The company ended May with 10.05 EH/s of installed hashrate and 6.47 EH/s of operating hashrate. Joint venture operations generated approximately 45 BTC despite wildfire-related disruptions at the Alborz site. Canaan also announced expansion of its hash-to-heat deployment in the Nordic region and extended collaboration with Tether on new mining system form factors. The company highlighted progress in diversifying beyond traditional bitcoin mining into energy-efficient computing infrastructure applications.