{"id":13011,"date":"2026-09-09T15:16:25","date_gmt":"2026-09-09T15:16:25","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=13011"},"modified":"2026-09-09T15:16:25","modified_gmt":"2026-09-09T15:16:25","slug":"canaan-revenue-misses-guidance-1117-btc-pledged-in-q2","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=13011","title":{"rendered":"Canaan revenue misses guidance; 1,117 BTC pledged in Q2"},"content":{"rendered":"<p><\/p>\n<div data-cs-editorial-quote-scope=\"\" data-cs-image-viewer-scope=\"\" data-single-article-content=\"\">\n<p>Canaan, the Bitcoin mining-equipment maker, reported second-quarter 2026 revenue below its earlier guidance on Sept. 8, as weaker machine demand put more weight on its cash and crypto treasury. More than half of its Bitcoin holdings were pledged for loans at June 30.<\/p>\n<p>Revenue totaled $31.9 million, short of the $35 million to $45 million range forecast in May. Product revenue fell to $13.6 million from $42.9 million in the first quarter. Canaan attributed that decline to less computing power sold and lower selling prices amid weaker demand.<\/p>\n<p>Management\u2019s outlook points to further pressure: Canaan forecast third-quarter revenue of $11 million to $15 million. That prospect makes the distinction between treasury holdings and available cash more consequential.<\/p>\n<div class=\"cs-article-embed\">\n<p> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Canaan earnings show Q1 revenue collapse as record BTC and ETH treasury nears $148M<\/h3>\n<\/p>\n<p> <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\"> <i class=\"fa-light fa-arrow-up-right\"\/> <\/span> <\/div>\n<h2>Cash, collateral and buybacks<\/h2>\n<p>Canaan\u2019s June 30 total of 1,915.5 BTC included 1,117 BTC pledged for secured term loans and 100 BTC transferred to a fixed-term product. Another 698.5 BTC sat in its cryptocurrency assets category.<\/p>\n<p>The pledged coins therefore represented more than half the total. They were already serving as loan collateral, while the fixed-term allocation was also distinct from cash. The headline Bitcoin balance cannot be read as an equivalent pool of money available for spending.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-561179\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/09\/exec-c7d73b68-aa9e-4db6-816b-201d441bf1fb.png\" alt=\"Canaan June 30, 2026 Bitcoin holdings: 1,915.5 BTC total, including 1,117 pledged for loans, 100 in a fixed-term product and 698.5 in cryptocurrency assets; cash reported separately at $66 million.\" width=\"720\" height=\"900\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/09\/exec-c7d73b68-aa9e-4db6-816b-201d441bf1fb.png 1122w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/09\/exec-c7d73b68-aa9e-4db6-816b-201d441bf1fb-240x300.png 240w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/09\/exec-c7d73b68-aa9e-4db6-816b-201d441bf1fb-819x1024.png 819w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/09\/exec-c7d73b68-aa9e-4db6-816b-201d441bf1fb-768x960.png 768w\" sizes=\"(max-width: 720px) 100vw, 720px\"\/><img decoding=\"async\" class=\"lazyload aligncenter wp-image-561179\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/09\/exec-c7d73b68-aa9e-4db6-816b-201d441bf1fb.png\" alt=\"Canaan June 30, 2026 Bitcoin holdings: 1,915.5 BTC total, including 1,117 pledged for loans, 100 in a fixed-term product and 698.5 in cryptocurrency assets; cash reported separately at $66 million.\" width=\"720\" height=\"900\" srcset=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/09\/exec-c7d73b68-aa9e-4db6-816b-201d441bf1fb.png 1122w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/09\/exec-c7d73b68-aa9e-4db6-816b-201d441bf1fb-240x300.png 240w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/09\/exec-c7d73b68-aa9e-4db6-816b-201d441bf1fb-819x1024.png 819w, https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/09\/exec-c7d73b68-aa9e-4db6-816b-201d441bf1fb-768x960.png 768w\" data-sizes=\"(max-width: 720px) 100vw, 720px\"\/><\/p>\n<p>The pledged and fixed-term Bitcoin was recorded as cryptocurrency receivables worth $70.9 million at June 30, separately from cryptocurrency assets valued at $47 million. It reported $66 million in cash at June 30, up from $43.5 million at March 31, although below the $80.8 million held at the end of 2025.<\/p>\n<aside id=\"cs-inline-newsletter-1\" class=\"cs-inline-newsletter\" data-inline-newsletter=\"\" data-newsletter-placement=\"article-midpoint\" data-newsletter-pending-label=\"Joining\u2026\" data-newsletter-pending-status=\"Joining the Daily Brief\u2026\" data-newsletter-email-required-message=\"Before sending, please provide your email address.\" aria-labelledby=\"cs-inline-newsletter-1-title\" aria-describedby=\"cs-inline-newsletter-1-copy\">\n<div class=\"cs-inline-newsletter__inner\">\n<div class=\"cs-inline-newsletter__content\"> <span class=\"cs-inline-newsletter__eyebrow\"> <i class=\"fa-regular fa-envelope\" aria-hidden=\"true\"\/> The Daily Brief <\/span><\/p>\n<h2 id=\"cs-inline-newsletter-1-title\" class=\"cs-inline-newsletter__title\">The signal, before the noise.<\/h2>\n<p id=\"cs-inline-newsletter-1-copy\" class=\"cs-inline-newsletter__copy\">Start your day with the crypto stories moving markets, decoded by CryptoSlate\u2019s editors.<\/p>\n<\/div>\n<div class=\"cs-inline-newsletter__form-shell\">\n<p class=\"cs-inline-newsletter__form-heading\">One email. Everything that matters.<\/p>\n<p id=\"cs-inline-newsletter-1-privacy\" class=\"cs-inline-newsletter__privacy\">Free to join. Unsubscribe any time.<\/p>\n<p> <i class=\"fa-regular fa-circle-xmark\" aria-hidden=\"true\"\/> <span>Whoops, looks like there was a problem. Please try again.<\/span><\/p>\n<p> <i class=\"fa-regular fa-circle-check\" aria-hidden=\"true\"\/> <span><strong>You\u2019re on the list.<\/strong> Your next Daily Brief is on its way.<\/span><\/p>\n<\/div>\n<\/div>\n<\/aside>\n<p>That cash increase matters alongside the reported $97.6 million quarterly net loss. The loss included noncash charges, among them $25.3 million in inventory and prepayment write-downs and purchase-commitment provisions, plus $9.2 million in property and equipment impairment. It does not measure how much cash the company spent.<\/p>\n<p>Mining also continued to contribute revenue: Canaan produced 243 BTC and generated $17.7 million from mining in the quarter. Management said those operations made a positive cash contribution before depreciation, a narrower measure than profitability for the company as a whole.<\/p>\n<div class=\"cs-article-embed\">\n<p> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Canaan counted paused Ethiopia mining as nearly 35% of its July operating hashrate total<\/h3>\n<\/p>\n<p> <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\"> <i class=\"fa-light fa-arrow-up-right\"\/> <\/span> <\/div>\n<p>The September disclosure also shows Canaan converting some crypto into cash after quarter-end. It said it sold 3,952 ETH and 54 BTC in late August for approximately $13.9 million, using part of the proceeds for share repurchases.<\/p>\n<p>By Sept. 8, repurchases under its existing program totaled about 16.4 million American depositary shares for $7.4 million, including $5.4 million spent in late August.<\/p>\n<div class=\"cs-article-embed\">\n<p> <span class=\"cs-article-embed__related-reading\">Related Reading<\/span><\/p>\n<h3 class=\"cs-article-embed__title\">Canaan can use crypto to buy back nearly 20% of its market value while its core business burns cash<\/h3>\n<\/p>\n<p> <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\"> <i class=\"fa-light fa-arrow-up-right\"\/> <\/span> <\/div>\n<p>The sales show that Canaan could turn some holdings into cash, although its June treasury balance predates those transactions. With equipment revenue weakening and a smaller third-quarter revenue range ahead, Canaan\u2019s allocation of cash between operations and repurchases matters more than the Bitcoin total alone.<\/p>\n<\/div>\n<p>Earnings,Featured,Mining,Bitcoin,BTC,Canaan,ETH,ethereum,miningBitcoin,BTC,Canaan,ETH,ethereum,mining#Canaan #revenue #misses #guidance #BTC #pledged1788966985<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canaan, the Bitcoin mining-equipment maker, reported second-quarter 2026 revenue below its earlier guidance on Sept. 8, as weaker machine demand put more weight on its cash and crypto treasury. More than half of its Bitcoin holdings were pledged for loans at June 30. Revenue totaled $31.9 million, short of the $35 million to $45 million<\/p>\n","protected":false},"author":1,"featured_media":13012,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[91,285,4581,601,31,6818,447,2251,6004,604],"class_list":["post-13011","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ethereum","tag-bitcoin","tag-btc","tag-canaan","tag-eth","tag-ethereum","tag-guidance","tag-mining","tag-misses","tag-pledged","tag-revenue"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Canaan revenue misses guidance; 1,117 BTC pledged in Q2 - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"description\" content=\"Canaan reported $31.9 million in Q2 revenue, below guidance, with 1,117 BTC pledged at June-end. Later crypto sales helped fund share buybacks.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=13011\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canaan revenue misses guidance; 1,117 BTC pledged in Q2\" \/>\n<meta property=\"og:description\" content=\"Canaan reported $31.9 million in Q2 revenue, below guidance, with 1,117 BTC pledged at June-end. Later crypto sales helped fund share buybacks.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptonews.uk.com\/?p=13011\" \/>\n<meta property=\"og:site_name\" content=\"Crypto News: Latest Cryptocurrency News and Analysis\" \/>\n<meta property=\"article:published_time\" content=\"2026-09-09T15:16:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/09\/canaan-crypto-cashflow-strain.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"\u884c\u653f\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"\u884c\u653f\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=13011\",\"url\":\"https:\/\/cryptonews.uk.com\/?p=13011\",\"name\":\"Canaan revenue misses guidance; 1,117 BTC pledged in Q2 - Crypto News: Latest Cryptocurrency News and Analysis\",\"isPartOf\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=13011#primaryimage\"},\"image\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=13011#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/09\/canaan-crypto-cashflow-strain.jpg\",\"datePublished\":\"2026-09-09T15:16:25+00:00\",\"author\":{\"@id\":\"https:\/\/cryptonews.uk.com\/#\/schema\/person\/822778c5844e0d16d43dce6630f4f1bf\"},\"description\":\"Canaan reported $31.9 million in Q2 revenue, below guidance, with 1,117 BTC pledged at June-end. Later crypto sales helped fund share buybacks.\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptonews.uk.com\/?p=13011#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptonews.uk.com\/?p=13011\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=13011#primaryimage\",\"url\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/09\/canaan-crypto-cashflow-strain.jpg\",\"contentUrl\":\"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/09\/canaan-crypto-cashflow-strain.jpg\",\"width\":1280,\"height\":720},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptonews.uk.com\/?p=13011#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptonews.uk.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Canaan revenue misses guidance; 1,117 BTC pledged in Q2\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptonews.uk.com\/#website\",\"url\":\"https:\/\/cryptonews.uk.com\/\",\"name\":\"Crypto News: Latest Cryptocurrency News and Analysis\",\"description\":\"Latest Crypto &amp; Bitcoin News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/cryptonews.uk.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptonews.uk.com\/#\/schema\/person\/822778c5844e0d16d43dce6630f4f1bf\",\"name\":\"\u884c\u653f\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptonews.uk.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/e4c2d23409b09e004cef3facbe677e95c5401f9e29680f3a311e0130c5748089?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/e4c2d23409b09e004cef3facbe677e95c5401f9e29680f3a311e0130c5748089?s=96&d=mm&r=g\",\"caption\":\"\u884c\u653f\"},\"sameAs\":[\"http:\/\/demo3.aiwalls.com\/coinbase\"],\"url\":\"https:\/\/cryptonews.uk.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Canaan revenue misses guidance; 1,117 BTC pledged in Q2 - Crypto News: Latest Cryptocurrency News and Analysis","description":"Canaan reported $31.9 million in Q2 revenue, below guidance, with 1,117 BTC pledged at June-end. Later crypto sales helped fund share buybacks.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cryptonews.uk.com\/?p=13011","og_locale":"en_US","og_type":"article","og_title":"Canaan revenue misses guidance; 1,117 BTC pledged in Q2","og_description":"Canaan reported $31.9 million in Q2 revenue, below guidance, with 1,117 BTC pledged at June-end. Later crypto sales helped fund share buybacks.","og_url":"https:\/\/cryptonews.uk.com\/?p=13011","og_site_name":"Crypto News: Latest Cryptocurrency News and Analysis","article_published_time":"2026-09-09T15:16:25+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/09\/canaan-crypto-cashflow-strain.jpg","type":"image\/jpeg"}],"author":"\u884c\u653f","twitter_card":"summary_large_image","twitter_misc":{"Written by":"\u884c\u653f","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/cryptonews.uk.com\/?p=13011","url":"https:\/\/cryptonews.uk.com\/?p=13011","name":"Canaan revenue misses guidance; 1,117 BTC pledged in Q2 - Crypto News: Latest Cryptocurrency News and Analysis","isPartOf":{"@id":"https:\/\/cryptonews.uk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/cryptonews.uk.com\/?p=13011#primaryimage"},"image":{"@id":"https:\/\/cryptonews.uk.com\/?p=13011#primaryimage"},"thumbnailUrl":"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/09\/canaan-crypto-cashflow-strain.jpg","datePublished":"2026-09-09T15:16:25+00:00","author":{"@id":"https:\/\/cryptonews.uk.com\/#\/schema\/person\/822778c5844e0d16d43dce6630f4f1bf"},"description":"Canaan reported $31.9 million in Q2 revenue, below guidance, with 1,117 BTC pledged at June-end. Later crypto sales helped fund share buybacks.","breadcrumb":{"@id":"https:\/\/cryptonews.uk.com\/?p=13011#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cryptonews.uk.com\/?p=13011"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptonews.uk.com\/?p=13011#primaryimage","url":"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/09\/canaan-crypto-cashflow-strain.jpg","contentUrl":"https:\/\/cryptonews.uk.com\/wp-content\/uploads\/2026\/09\/canaan-crypto-cashflow-strain.jpg","width":1280,"height":720},{"@type":"BreadcrumbList","@id":"https:\/\/cryptonews.uk.com\/?p=13011#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cryptonews.uk.com\/"},{"@type":"ListItem","position":2,"name":"Canaan revenue misses guidance; 1,117 BTC pledged in Q2"}]},{"@type":"WebSite","@id":"https:\/\/cryptonews.uk.com\/#website","url":"https:\/\/cryptonews.uk.com\/","name":"Crypto News: Latest Cryptocurrency News and Analysis","description":"Latest Crypto &amp; Bitcoin News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cryptonews.uk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/cryptonews.uk.com\/#\/schema\/person\/822778c5844e0d16d43dce6630f4f1bf","name":"\u884c\u653f","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptonews.uk.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/e4c2d23409b09e004cef3facbe677e95c5401f9e29680f3a311e0130c5748089?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e4c2d23409b09e004cef3facbe677e95c5401f9e29680f3a311e0130c5748089?s=96&d=mm&r=g","caption":"\u884c\u653f"},"sameAs":["http:\/\/demo3.aiwalls.com\/coinbase"],"url":"https:\/\/cryptonews.uk.com\/?author=1"}]}},"_links":{"self":[{"href":"https:\/\/cryptonews.uk.com\/index.php?rest_route=\/wp\/v2\/posts\/13011","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptonews.uk.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptonews.uk.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptonews.uk.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptonews.uk.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13011"}],"version-history":[{"count":0,"href":"https:\/\/cryptonews.uk.com\/index.php?rest_route=\/wp\/v2\/posts\/13011\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptonews.uk.com\/index.php?rest_route=\/wp\/v2\/media\/13012"}],"wp:attachment":[{"href":"https:\/\/cryptonews.uk.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptonews.uk.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptonews.uk.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}