Canaan reports quarterly net loss of almost $98 million

Canaan ($CAN) generated $31.9 million in second-quarter 2026 revenue, including $17.7 million from mining. Its net loss widened to $97.6 million from $11.1 million a year earlier. Inventory write-downs, equipment impairments and a decline in the fair value of crypto assets were among the factors weighing on results. The company mined 243 BTC during the quarter.

Sources:

• Canaan — unaudited second-quarter results