Canaan Expands Hashrate as Bitcoin Network Power Declines

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Canaan significantly expanded its mining capacity in Q4, increasing installed hashrate to 9.91 EH/s, with 7.65 EH/s actively operational during the quarter. A milestone order from a US-based institutional miner helped drive a 60% year-on-year rise in computing power sales.

Meanwhile, the broader Bitcoin network hashrate has dropped from 1,150 EH/s in October to around 980 EH/s, as some miners unplug unprofitable machines or pivot toward AI and high-performance computing. Canaan’s expansion during a period of declining network competition could position it strategically — but investors appear unconvinced for now.

[johnblockbuster]

boosted treasury holdings + strong q4 sales show operational strength, positioning well if network difficulty eases or price recovers