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Canaan: power cost and cost per bitcoin, 2026

Energy from Canaan's stated all-in power cost, which assumes full uptime. Its power line includes hosting partners' revenue share. Mining is a minority of the business. Energy derived from a rate the company states.

Cost per kWh, quarter by quarter

PeriodEnergy (MWh)Power ¢/kWhAll-in ¢/kWhLoaded ¢/kWh
Q1 2026386,5004.4¢4.4¢5.3¢
Q2 2026327,6004.3¢4.3¢6.5¢
H1 2026714,1004.3¢4.3¢5.9¢

What a bitcoin cost them

PeriodBitcoin minedPower $/BTCAll-in $/BTCLoaded $/BTCRevenue $/BTC
Q1 2026257$65,700$65,700$80,300$74,400
Q2 2026243$58,000$58,000$88,000$72,700
H1 2026500$61,900$61,900$84,000$73,600

The hardware

PeriodDepreciationImpairmentsSpending on machines
Q1 2026$5.8m$0mnot separable
Q2 2026$6.3m$9.2mnot separable
H1 2026$12.1m$9.2mnot separable

Full analysis, with every filing linked · All public miners

This is our analysis of the company's public filings, not an audit in the accounting sense, and it is not investment advice. Mining output depends on bitcoin's price, difficulty and uptime, and isn't guaranteed.