Jia Nan Technology Q3 revenue is 14.5 million USD, net profit is 8 million USD

According to PR Newswire, Bitcoin mining machine manufacturer Canaan Creative released its unaudited financial report for the third quarter of 2026. During the reporting period, the company's total revenue was $14.5 million, including product revenue of $4.8 million, mining revenue of $9.5 million, and other revenue of $300,000; gross loss was $8.6 million, and operating loss was $42.9 million. The company recorded a net profit of $8 million, compared to a net loss of $97.6 million in the previous quarter and a net loss of $27.7 million in the same period of 2025; Non-GAAP adjusted EBITDA was $22.4 million.

As of September 30, Canaan Creative held a total of 1,875.5 Bitcoins, with cash and restricted cash totaling $72.8 million. On November 6, the company's board of directors approved a 12-month stock repurchase authorization of up to $100 million and initiated the first phase of a repurchase plan for ADS or Class A common stock of up to $20 million.

The company also plans to adjust the ratio of ADS to Class A common stock from 1:15 to 1:375, which means that every 25 existing ADS will be consolidated into 1 new ADS, expected to take effect around December 4. Canaan Creative expects total revenue for the fourth quarter to be between $18 million and $22 million.