Canaan Inc., a leading Bitcoin mining hardware manufacturer, released its April 2026 operational update, highlighting multiple all-time highs. As of April 30, 2026, the company's cryptocurrency holdings reached a record 1,826 Bitcoin and 3,952 Ethereum, reflecting strong conviction in digital assets.
Record Holdings and Mining Output
In April, Canaan's self-operated mining operations produced 90 bitcoins, supplemented by 3 bitcoins from customer payments. Joint venture operations contributed approximately 48 bitcoins, bringing the total monthly bitcoin generation to over 140 coins. This steady production further strengthened the company's balance sheet.
Hashrate Expansion Accelerates
Hashrate, a key metric of mining efficiency, showed robust growth. Canaan's non-joint venture installed hashrate reached 10.97 EH/s, up 34.6% year-over-year, while operational hashrate stood at 6.86 EH/s, a 10.6% increase from April 2025. The joint venture segment reported installed and operational hashrates of 4.82 EH/s and 4.35 EH/s, respectively. The overall hashrate expansion underscores Canaan's continued investment in miner deployment and farm operations.
Tether Places Follow-Up Order for Custom Mining Modules
Notably, stablecoin issuer Tether placed a follow-up order on April 28 for customized high-density mining hash board modules. This marks another step in the deepening partnership — Tether had previously ordered 1.6 EH/s of Bitcoin miners from Canaan in 2025. The additional order signals Tether's accelerating push into Bitcoin mining and its confidence in Canaan's tailored technology solutions.
Industry observers note that Canaan is diversifying revenue streams beyond mining hardware sales by holding cryptocurrencies, self-mining, and accepting customer payment in Bitcoin. Collaborations with institutional players like Tether also help optimize inventory turnover and R&D investment. As the Bitcoin halving's effects unfold, demand for high-efficiency miners is expected to rise, positioning Canaan to leverage its technology and production scale.
Nevertheless, risks remain — including crypto price volatility, rising energy costs, and intensifying competition. Investors will closely monitor Canaan's next quarterly report for signs of sustained growth.