Strongest quarter in three years – Yet, Canaan’s CAN stays below $1!

ambcryptoPublished on 2026-02-11Last updated on 2026-02-11

Abstract

Crypto miner Canaan reported its strongest quarterly revenue in three years, with Q4 revenue surging 121.1% year-on-year to $196.3 million. This growth was driven by increased mining output and high demand for its machines, including a record 14.6 EH/s in computing power shipments. Mining revenue alone rose 98.5% to $30.4 million, and the company expanded its digital asset holdings to 1,750 BTC and 3,950 ETH. Despite these strong operational and financial results, Canaan’s stock (CAN) continues to trade below $1, currently at $0.57, down nearly 7% in a day. The company faces potential delisting from Nasdaq after receiving a warning for non-compliance with the exchange’s minimum bid price requirement. Canaan has until July 13 to bring its share price above $1 for at least 10 consecutive trading days. The stock has fallen about 18% year-to-date and over 70% in the past 12 months, reflecting persistent investor concerns despite record performance.

Crypto miner Canaan just delivered its strongest quarterly revenue in three years. However, instead of celebrating, the market focused on its sub-$1 stock price and potential Nasdaq delisting.

Here’s what you need to know.

Record revenue can’t get the market to smile

Canaan’s latest earnings report delivered numbers the company hasn’t seen in years, with a 121.1% jump in fourth-quarter revenue to $196.3 million.

Source: X

The numbers were powered by mining output and high demand for its machines. Mining revenue alone climbed 98.5% year-on-year to $30.4 million.

At the same time, Canaan expanded its digital asset reserves, ending the quarter with a record 1,750 BTC  (valued at nearly $120 million) and 3,950 ETH worth about $7.9 million.

Source: Canaan

Machine shipments also hit a milestone, with a record 14.6 exahashes per second (EH/s) delivered during the quarter. Computing power sales rose by 60% too, compared to a year ago.

Success overshadowed by falling stock

Canaan continued to scale its mining footprint in Q4, expanding installed capacity to 9.91 EH/s, with 7.65 EH/s actively running. Meanwhile, Bitcoin network’s hashrate went from a peak of 1,150 EH/s in mid-October to around 980 EH/s.

And yet, the operational gains did little to reassure investors. At the time of writing, CAN was trading at $0.57, down 6.87% over the day.

More trouble ahead?

The share price is now creating a bigger problem. Stock is down about 18% since the start of the year; a 70.2% fall over the past 12 months.

Source: Canaan

On 16 January, the Singapore-based miner disclosed a Nasdaq warning, stating that it was no longer in compliance with the exchange’s minimum bid requirement. To avoid delisting, Canaan must push its closing share price back above $1 for at least 10 consecutive trading days.

The company has 180 days until 13 July to meet the rule.

Final Thoughts

  • Canaan posted a 121% revenue surge, but its sub-$1 stock price keeps Nasdaq delisting risk in focus.
  • With a deadline to regain compliance, CAN’s next moves could make or break.
Next: Top 8 crypto presales making headlines in February 2026
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Related Questions

QWhat was the percentage increase in Canaan's Q4 revenue and what was the total amount?

ACanaan's Q4 revenue increased by 121.1% to a total of $196.3 million.

QWhy is Canaan's stock (CAN) at risk of being delisted from Nasdaq?

ACanaan received a Nasdaq warning because its stock price fell below the exchange's minimum bid requirement of $1, and it must maintain a closing price above $1 for 10 consecutive trading days to avoid delisting.

QHow much did Canaan's mining revenue grow year-on-year in Q4?

ACanaan's mining revenue grew by 98.5% year-on-year to $30.4 million in the fourth quarter.

QWhat was the value of Canaan's digital asset reserves at the end of the quarter?

ACanaan ended the quarter with digital asset reserves valued at nearly $120 million for its 1,750 BTC and approximately $7.9 million for its 3,950 ETH.

QBy what date must Canaan regain compliance with Nasdaq's minimum bid price requirement?

ACanaan has until July 13 to regain compliance with Nasdaq's minimum bid price requirement, giving it 180 days from the January 16 warning.

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