Bitcoin [BTC] mining firm Canaan Inc. has released its unaudited Q1 2026 financial results. Total revenues came to $62.7 million, which was within the range of the company’s prior guidance.

Yet, this was a decrease from $82.8 million during the same period in 2025 and $196.3 million during the fourth quarter of 2025.

Canaan’s Q1 2026 quarterly results 

With 257 Bitcoins produced during the first quarter of 2026, the cryptocurrency treasury grew to 1,807.60 BTC and 3,951.53 Ethereum [ETH] by the end of the 31st of March, 2026.

During that time, its processing capacity also increased by 10.7% sequentially, reaching about 11 EH/s across ten joint mining projects. 

Compared to $30.4 million in the fourth…