[Canaan Inc. ($CAN)] A Thorough Explanation of the Latest April 2026 Mining Performance and Growth Trajectory! 🚀

A pioneer in Bitcoin mining equipment that is also rapidly building its own infrastructure, Canaan Inc.. In this article, we will explain the company's current status and the latest big news in an easy-to-understand manner, based on the newly released report, "April 2026 Bitcoin Production and Mining Operations Performance," along with historical data trends.

Specific progress has finally been announced regarding the collaboration with Tether, which has been a point of interest for some time!

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💡 1. April 2026 Highlights: Record-High Assets and Progress in Efficiency

Amidst a challenging market environment, Canaan is demonstrating its strength as a "disciplined and efficient operator," building its strongest financial foundation to date.

• ⛏️ Monthly Mining Output:

  • Proprietary Operations: 90 BTC (plus an additional 3 BTC received as payment from customers)

  • Joint Venture (JV): approx. 48 BTC

• 💰 Crypto Asset Holdings (as of month-end): 1,826 BTC / 3,952 ETH (Setting a new record high again!)

• ⚙️ Deployed Hashrate (as of month-end):

  • Self-mining: 10.97 EH/s(34.6% increase year-over-year)

  • Joint Venture (JV): 4.82 EH/s

  • Global Total: 15.79 EH/s

• ⚡ Installed Power Capacity:

  • Self-mining: 266.3 MW

  • Joint Venture (JV): 120 MW

• 🛠️ Significant Improvement in Operational Efficiency:

  • The global average miner efficiency has improved significantly from 27.4 J/TH as of April 2025 to 23.6 J/TH.

  • The average electricity cost is maintained at a very low level of $0.044/kWh.

CEO Nangeng Zhang stated firmly, "April was a constructive reset month for Canaan. While margin pressure is a challenge for the industry, such periods ultimately strengthen the foundation for sustainable long-term growth."

📈 2. See it in Graphs! Canaan's Growth Trajectory (End of 2024 - April 2026)

Steady accumulation of mining rewards and infrastructure investment have led to continued upward growth.

🔥 3. Big News This Month: Collaboration with Tether Officially Underway!

There has been significant progress regarding the strategic partnership with Tether, which investors had been anticipating for some time.

On April 28, 2026, Canaan announced that it had secured a follow-on order for high-density mining hash board modules from Tether.

• Support for Next-Generation Systems: This module was custom-developed to support next-generation "immersion-cooled mining and computing systems."

• Success of Proof-of-Concept: This follow-on order follows the success of the 2025 proof-of-concept (PoC) project conducted jointly by Tether and Swiss R&D firm ACME Swisstech.

• Deployment Location: It is scheduled to be deployed at Tether-affiliated mining facilities in South America.

This initiative combines Canaan's deep expertise in ASICs with Tether's strength in pursuing independent, advanced cooling systems, and can be seen as a move driving the industry trend toward modular mining architecture.

🌍 4. Expansion of Global Infrastructure

In addition to the collaboration with Tether, the company's own infrastructure footprint is steadily increasing. Active mining projects, which stood at 9 locations worldwide as of April 2025, have now expanded to 13 locations across 5 countries.

Projects are deployed across North America, Canada, Ethiopia, the Middle East, and Malaysia, forming a global and resilient portfolio that does not rely on risks in any specific region.

📝 5. Summary and Future Outlook

Based on the results from April 2026, Canaan's current position is as follows:

1. Solid Balance Sheet: Holdings of 1,826 BTC and 3,952 ETH provide the company with overwhelming unrealized gains and liquidity.

2. Progress in Tether Partnership: It has been proven that the company is working deeply with a top-tier firm in the cutting-edge field of next-generation immersion systems, going beyond simple machine sales.

3. Pursuit of Efficiency: The company has improved its global average power efficiency to 23.6 J/TH, achieving low-cost operations of just $0.044 per kWh.

While market conditions remain volatile, Canaan is steadily solidifying its foundation as the next generation of "energy & compute infrastructure." Expectations are high for the full-scale operation of the next-generation A16 series and the further expansion of innovative energy projects!

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