Canaan Inc. Provides September 2026 Bitcoin Production and Mining Operation Updates

Nangeng Zhang, Chairman and Chief Executive Officer of Canaan

“Bitcoin markets continued to demonstrate resilience in September, navigating macroeconomic and policy uncertainty while institutional participation remained steady. Hashprice extended its recovery from August, pointing to improving mining economics and offering a cautiously encouraging signal for the market,”

Nangeng Zhang, Chairman and Chief Executive Officer of Canaan

“In that environment, our focus remained on disciplined execution. Our non-JV installed hashrate remained stable at 10 EH/s. Even amid rising network difficulty, we mined 44 BTC during the month, bringing our total bitcoin holdings to 1,875 BTC at month-end. Our joint venture operations also maintained steady performance, with installed hashrate of 4.87 EH/s and operating hashrate of 4.18 EH/s at month-end.”

Nangeng Zhang, Chairman and Chief Executive Officer of Canaan

“We are also seeing encouraging progress in our integrated computing and energy strategy. Our 8 MW Nordic district heating project is now fully operational, delivering recovered computing heat to approximately 2,800 homes. In Canada, our greenhouse heat recovery project is moving toward planned deployment, pending the completion of site inspections. These milestones reinforce the potential of our technology to bridge computing and energy infrastructure through heat reuse initiatives.”

Nangeng Zhang, Chairman and Chief Executive Officer of Canaan

“Looking ahead, we will continue to build on this momentum by advancing our computing and energy initiatives and pursuing opportunities that translate our capabilities into results. We remain committed to disciplined execution and sustainable long-term value creation for our shareholders.”