Canaan, a Bitcoin Mining Machine Manufacturer, Reports a Net Loss of 141 Billion Yen for Q1 2026

Canaan, a leading cryptocurrency mining hardware manufacturer, announced its financial results for the first quarter of 2026 (January to March) on the 19th. The company recorded a net loss of $88.7 million (approximately 141 billion yen). The net loss included an operating loss of $54.3 million, a loss of $24.9 million due to fair value changes in held cryptocurrencies, a loss of $16 million from financial derivatives, and a foreign exchange loss of $4 million.