Canaan Doubles Down on Energy Strategy with West Texas Joint Venture, Boosts Bitcoin Production

Canaan Inc. released its unaudited bitcoin mining update for February 2026, doubling down on its energy strategy with a joint venture in West Texas. The company produced 86 BTC, bringing its total cryptocurrency holdings to 1,793 BTC and 3,952 ETH, with an estimated value of $128 million. Canaan's deployed hashrate reached 14.75 EH/s, and it acquired a 49% stake in a North American data center, adding 120 MW of power capacity at competitive rates.