Canaan Tech Reports Record BTC Holdings and New Tether Partnership

Canaan Technology, a leading provider of high-performance computing solutions, has released its operational data for April 2026, showcasing a significant expansion in its digital asset treasury. The company’s self-operated mining division successfully produced 90 BTC during the month, complemented by 3 BTC received through customer payments. This growth has propelled the firm's total holdings to a new historical high, reinforcing its position as a major institutional player in the cryptocurrency mining sector.

Expanding Mining Infrastructure and Computing Power

As of April 30, 2026, Canaan reported a total treasury balance of 1,826 BTC and 3,952 ETH. This accumulation of assets is supported by a robust increase in technical capacity. The company's non-joint venture business reached an installed computing power of 10.97 EH/s, representing a year-on-year growth of 34.6%. This suggests a strategic move toward upgrading hardware efficiency despite the competitive landscape of the Bitcoin blockchain. Key operational metrics for the month include:

• The West Texas joint venture project maintains an installed capacity of 4.82 EH/s.
• Operational computing power for the joint venture stood at 4.35 EH/s with a power capacity of 120MW.
• The average comprehensive electricity cost was optimized at $0.044/kWh.

Strategic Partnership with Tether and Technological Upgrades

Beyond its own production metrics, Canaan disclosed a significant commercial development involving Tether, the issuer of the world's largest stablecoin. On April 28, the company received a substantial order for high-density hash boards. These components are specifically designed for next-generation immersion cooling systems, a technology that improves heat dissipation and extends the lifespan of mining hardware. Immersion cooling is increasingly favored by large-scale operators to manage the high thermal output of modern ASIC miners while reducing energy overhead.

The persistent growth in Canaan's hash rate and the diversification of its revenue streams through hardware sales indicate a resilient business model. By maintaining a low electricity cost of 4.4 cents per kilowatt-hour, the company continues to maintain healthy margins even as network difficulty fluctuates. As the firm prepares to deploy its latest liquid-cooled computing systems, the industry will likely monitor how these efficiency gains impact its long-term BTC accumulation strategy.