Canaan released its Bitcoin mining and operations data for May 2026, according to a PR Newswire report cited by ChainCatcher. The company said its self-operated mining produced 90 BTC during the month. It also received another 24 BTC from customer payments. By the end of the reporting period, Canaan held approximately 1,867 BTC and 3,952 ETH on its books, a record high for the company.
Hashrate and efficiency figures
For its self-operated mining business, Canaan reported an installed hashrate of 10.05 EH/s at the end of the period, while its operating hashrate stood at 6.47 EH/s. The two figures describe different parts of the company’s mining capacity: installed hashrate refers to deployed capacity, while operating hashrate reflects the portion that was running during the period.
The company also disclosed updated energy-efficiency metrics. Canaan said the average efficiency of its self-operated mining machines in North America improved to 17.9 J/TH, representing an approximately 11% year-on-year optimization. Its global average efficiency reached 23.7 J/TH, a 13.5% year-on-year improvement. J/TH is a commonly used measure for mining machine power efficiency, showing the amount of energy consumed per unit of computing power.
Texas recovery and Nordic heating project
Canaan further stated that its joint venture project in Texas with WindHQ had been disrupted by wildfires. The company said the project is expected to fully recover by mid-June. This update was disclosed alongside the company’s May mining output, balance-sheet crypto holdings, hashrate and efficiency data.
The company also noted that it is expanding its “hashrate heating” project in the Nordic region and continuing cooperation with Tether on immersion-cooling mining machines. In this monthly update, Canaan covered BTC production, BTC received from customer payments, ending BTC and ETH holdings, self-operated installed and operating hashrate, North American and global efficiency readings, as well as project updates involving Texas, the Nordic region and Tether.