Key facts
- Canaan reported an $8 million profit for the quarter ended September 30, 2026, per the report.
- Canaan's mining rig sales fell 96% in the quarter, the report said.
- The profit followed a prior loss, the report said, as bitcoin gains offset weaker hardware revenue.
Canaan reported an $8 million profit for the quarter ended September 30, 2026, according to a report published November 10, 2026 by Bitcoin Magazine. The result marked a swing from a loss, which the report attributed to gains on the company's bitcoin holdings.
Revenue from Canaan's mining rig sales fell 96% in the quarter, the report said, leaving the hardware business sharply smaller even as the bitcoin position drove the profit. The report did not state the dollar value of the rig revenue or the size of the bitcoin gain.