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Canaan Creative Produces 44 BTC in August, Sells All ETH and 54 BTC to Repurchase 13.6 Million ADS

On September 14, Canaan Creative (NASDAQ: CAN) released its Bitcoin mining operational update for August 2026. In August, the company produced 44 BTC, with non-joint venture installed computing power maintained at 10.05 EH/s and joint venture installed computing power reaching 4.92 EH/s, while the average all-in electricity cost was $0.043 per kWh. In late August, the company sold all 3,952 ETH and 54 BTC at an average price of approximately $2,400/ETH and $79,000/BTC, generating about $13.9 million in cash, and used part of the proceeds to repurchase approximately 13.6 million ADS, bringing the total repurchased since the beginning of the year to about 16.4 million shares. By the end of the month, the company held 1,868 BTC and 0 ETH. Additionally, equipment for the Canadian waste heat recovery greenhouse project has arrived and installation has begun, while the Ethiopian mining operations have been suspended but the computing power is still accounted for in the installed capacity.

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