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

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

AMBCryptoAMBCrypto2026/02/11 15:03
By:AMBCrypto

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.

Strongest quarter in three years – Yet, Canaan’s CAN stays below $1! image 0

Source: X

Mining output and high demand for its machines powered the strong numbers. 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.

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

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.

Strongest quarter in three years – Yet, Canaan’s CAN stays below $1! image 2

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.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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