Canaan Inc., a major Bitcoin mining hardware maker, reported a $97.6 million net loss in Q2 2026, a sharp decline from last year's $11.1 million loss. Revenue fell 68% year-over-year to $31.9 million due to Bitcoin prices dropping from $82K to $58K, which reduced demand for mining rigs and hurt self-mining operations. The company also took a $25.3 million inventory write-down, reflecting lower value of its mining equipment stock. Despite holding a record 1,915.5 BTC and 3,951.7 ETH treasury and increasing its installed hashrate, Canaan projects Q3 revenue to decline further to $11-$15 million, signaling ongoing challenges in the mining hardware market.
Canaan Inc.'s recent financial results show significant losses amid Bitcoin price declines. For readers following cryptocurrency markets, here is Pluang's market snapshot as of Sep 17, 2026 19:21 WIB: out of 50 major cryptocurrencies tradable on Pluang, 44 rose and 5 fell today. Notable movers include SXP (Solar) down 46.27% at Rp37 with a typical hold time of 94 days, COTI up 12.56% at Rp333 with 63% sell order activity and a typical hold time of 121 days, and BAL (Balancer) up 11.14% at Rp16,297 with a typical hold time of 85 days.
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