# Canaan Revenue Falls 90.4% in Q3 2026 as Net Income Reaches $8 Million

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/53885
Published: 2026-11-11T11:32:58.000Z
Updated: 2026-11-11T11:32:58.000Z
Section: Business

> Products revenue was $4.8 million, mining revenue was $9.5 million and other revenue was $0.3 million. Canaan expects fourth-quarter revenue of $18 million to $22 million.

Canaan Inc. recorded $14.5 million in Q3 2026 revenue, down 90.4% from a year earlier, and $8 million in net income alongside fair-value gains on cryptocurrency and derivatives.

Basic and diluted net income per American depositary share (ADS) was $0.01. Revenue was $150.5 million in Q3 2025. Mining revenue accounted for $9.5 million of the latest quarter’s total, compared with $4.8 million from products and $0.3 million from other revenue.

Canaan recorded a $42.9 million operating loss. Net income was $8 million, compared with a $27.7 million net loss in Q3 2025. Fair-value gains totaled $20.1 million on cryptocurrency and $31.9 million on financial derivatives. Canaan attributed the gains mainly to Bitcoin (BTC) being priced higher on Sept. 30, 2026, than on June 30, 2026.

For the fourth quarter of 2026, Canaan expects revenue of $18 million to $22 million.