Canaan Inc. reports a significant surge in revenue and operational performance

Crypto mining company Canaan Inc. announced in its Q4 2025 financial statements that its total revenue for 2025 surged to $196.3 million. The company’s total computing power set a new quarterly record after reaching 14.6 exahashes per second (EH/s).

Canaan Inc. reported unaudited financial results for the fourth quarter and full year ended December 31, 2025. The financial records revealed that the firm recorded a total revenue of US$196.3 million YoY, exceeding the median of the Company’s previous guidance range. The revenue represented a 121.1% YoY increase and a 30.4% QoQ growth.

Canaan sells record computing power exceeding 14.6 EH/s

In a press release distributed on Tuesday. The company announced it had sold a total of 14.6 exahashes per second (EH/s), setting a new quarterly record. The computing power sold represented 60.9% year-over-year growth and 45% quarter-over-quarter growth. The press release highlighted that large-scale orders from North America drove the sudden surge in computing power sales.

Canaan’s mining revenue also went up to $30.4 million. The company mined 300 Bitcoins at an average revenue of $101,304 per $BTC, despite the network hash rate pulling back. The company’s gross profit was $14.6 million, compared with a gross loss of $6.4 million in the same period last year.

The company’s crypto treasury also expanded 1,749.9 $BTC and 3,950.54 $ETH by the end of the fourth quarter of 2025. According to data from Bitcoin treasuries, the company’s holdings are worth $121.86 million as of this publication. Data from Coingecko shows that its $ETH holdings are worth $8 million at $ETH’s current discounted prices. The crypto holdings position the company among the leading corporate Bitcoin holders, ranking 38 on Bitcoin Treasuries’ list of top public companies holding Bitcoin and 17 on CoinGecko’s list of top Ethereum Treasury companies.

Canaan’s total revenue for the entire 2025 grew by 96.7% from $269.3 million in 2024 to $529.7 million. The total computing power sold also increased by 40.7% Year over Year, surpassing 36.5 EH/s, as the company deepened its global client partnerships. The Nasdaq-listed Bitcoin mining firm also saw Bitcoin mining revenue increase from $44.0 million in 2024 to $113.2 million, a year-over-year increase of 157.2%. The firm’s Gross profit was $41.2 million compared to a gross loss of US$84.3 million in 2024.

Despite strong financial results last year, Canaan’s stock is down 0.28% over the last 1 day, according to Google Finance. The stock has surged by 1.68% over the past 7 days. However, the stock is down 26.22% in the last month and has declined by more than 12% since the year began. The stock’s performance may reflect the broader crypto market’s overall performance during the ongoing crypto winter. Bitcoin is down 7.9% over the last seven days, according to CoinMarketCap, and has traded below $70 since February 5.

Canaan faces Nasdaq delisting risk as minimum bid price drops below $1

The miner’s financials come at a crucial time for the company. About three weeks ago, Cryptopolitan reported that Canaan had entered the Nasdaq delisting window. The report noted that the company confirmed it had received a notification letter from Nasdaq on January 14 regarding non-compliance with the exchange’s minimum bid price requirement of $1. The report highlighted that the letter did not have any immediate effect on the listing or trading of the company’s securities on the exchange.

Canaan began developing cryptomines towards the end of 2025. On December 5, the mining firm announced a strategic partnership with SynVista Energy to significantly reduce the environmental impact and cost of Bitcoin mining through a “renewable-adaptive” ecosystem. The partnership aims to reduce the massive amount of electricity consumption associated with Bitcoin mining. According to Bitcoin, mining consumes about 0.8% of the world’s global electricity consumption.