Canaan Inc. Mines 89 BTC in March as North American Capacity Grows

Canaan Inc. (NASDAQ: CAN), a leading provider of high-performance computing solutions, has released its operational mining data for March 2026, highlighting a significant expansion of its digital asset holdings and infrastructure. During the month, the company successfully mined 89 BTC, contributing to a record-breaking treasury. This performance coincides with the integration of over 10 MW of new installed capacity in North America, signaling a continued strategic shift toward Western markets to diversify its global mining footprint.

Expanding Infrastructure and Computing Power

The company's expansion efforts have pushed its global installed power capacity to 266.3 MW. A key driver of this growth is the "ABC project" in Texas, a joint venture in which Canaan holds a 49% stake. This partnership alone contributed approximately 4.4 EH/s of computing power to the company's total reach. Outside of joint ventures, Canaan's deployed computing power reached 10.97 EH/s, with an active operational capacity of 6.89 EH/s as of the end of March.

The efficiency of these operations remains a focal point for the firm's technical strategy. In North America, the average miner efficiency was recorded at 18.7 J/TH, while the average comprehensive electricity cost was maintained at a competitive 0.044 USD per kWh.

• Total BTC mined in March: 89
• Total global capacity: 266.3 MW
• Average power cost: $0.044/kWh
• North American efficiency: 18.7 J/TH

Record Crypto Holdings and Future Strategy

The March production results have bolstered Canaan's balance sheet, bringing its self-held cryptocurrency assets to a new all-time high. By maintaining a "HODL" strategy for a portion of its production, the company aims to capitalize on long-term market appreciation. As of the end of the month, the company’s treasury included:

• 1,808 BTC (Bitcoin)
• 3,952 ETH (Ethereum)

Looking forward, management indicated a commitment to innovative energy solutions to further optimize costs. This includes the promotion of "gas-to-computing" initiatives, which utilize stranded energy sources to power mining hardware, thereby reducing environmental impact and operational overhead.

In conclusion, Canaan Inc.'s March 2026 results demonstrate a robust scaling of both hardware deployment and digital asset accumulation. By securing low electricity costs and expanding its presence in energy-rich regions like Texas, the company continues to solidify its position as a major institutional player in the global Bitcoin mining ecosystem.