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liquidated its entire Ethereum position and a portion of its Bitcoin holdings in late August 2026, using the proceeds to repurchase American Depositary Shares while reporting a significant decline in mining-equipment revenue.
The move highlights a strategic pivot toward shareholder value extraction from its digital asset treasury as core business fundamentals weaken.
During the month, Canaan mined 44 BTC and maintained a non-joint venture installed hashrate of 10.05 EH/s. The company's joint venture hashrate reached 4.92 EH/s by the end of August, continuing its expansion.
Operational developments also included progress on a compute heat recovery greenhouse project in Canada, where equipment installation is currently underway prior to the winter heating season.
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