Canaan Technology 2025 Financial Report: Revenue Doubles, Self-Operated Mining Becomes a New Growth Engine

CNEV News Network, Canaan Technology released its Q4 2025 and full-year financial reports, with impressive performance, record-breaking revenue and computing power sales, significant expansion of self-mining operations, and a return to profitability.

Performance and Operating Results

In Q4 2025, total revenue reached $196.3 million, a year-over-year increase of 121.1%. Full-year total revenue was $529.7 million, up 96.7% compared to 2024. The growth was mainly driven by strong hardware sales, with total sales of computing power reaching a quarterly high of 14.6 EH/s, a 60.9% increase year-over-year; annual sales of total computing power reached 36.5 EH/s, a 40.7% increase.

Business Progress

Self-mining operations became a key growth driver. In Q4 2025, mining revenue was $30.36 million, producing 300 bitcoins in the quarter; full-year mining revenue surged to $113.2 million, a 157.2% increase year-over-year. As of the end of 2025, the company’s cryptocurrency holdings reached a record high of approximately 1,750 BTC and 3,951 ETH.

Current Operating Status

The company achieved positive gross profit in 2025. In Q4, gross profit was $14.58 million, compared to a gross loss of $6.35 million in the same period of 2024; full-year gross profit was $41.16 million, compared to a gross loss of $84.32 million in 2024, reflecting successful product structure optimization and cost control. Although the company still posted a net loss for the year, the net loss narrowed by 15.6% year-over-year.

Strategic Progress

Canaan Technology secured milestone orders in the North American market and continued to promote the integration of computing power and energy infrastructure. As of the end of 2025, the company’s cash position was $80.78 million, with ample liquidity. Additionally, the company extended a $30 million stock repurchase plan in December 2025, and as of February 9, 2026, approximately 2.8 million ADS shares had been repurchased.

Company Performance Goals

The company expects total revenue for Q1 2026 to be in the range of $60 million to $70 million, demonstrating confidence in short-term business growth.

The above information is compiled from public sources and does not constitute investment advice.