Despite reporting a 121.1% increase in revenue to $196.3 million in Q4, Canaan’s shares fell 6.9% on the Nasdaq. Bitcoin mining revenue rose 98.5% to $30.4 million, boosting Bitcoin treasury to 1,750 BTC, worth $120 million. Canaan also increased its Ether holdings to 3,950 ETH, valued at $7.9 million.

The revenue figure marks Canaan’s highest quarterly posting in three years, driven by Bitcoin mining machine sales. A “milestone order” from a US institutional miner helped the company achieve a 60% year-on-year increase in computing power sales, shipping a record 14.6 EH/s during the quarter.

Canaan’s installed hashrate expanded to 9.91 EH/s, with 7.65 EH/s operational in Q4. Despite the strong performance, Canaan shares dropped 6.87% to $0.56, making it one of the poorest performers among the top Bitcoin miners by market cap. Bitcoin network hashrate has fallen to 980 EH/s.

Canaan’s risk of Nasdaq delisting has heightened, with shares down 18.1% year-to-date and 70.2% over the last 12 months. The company received a warning from Nasdaq to increase its share price to above $1 or face delisting. Canaan has until July 13 to comply with the minimum bid rule.

Nasdaq gave Canaan 180 days to raise its share price above $1 to avoid delisting. The company last closed above $1 on Nov. 28, 2025. Investors should stay updated on Canaan’s share performance as the deadline approaches for compliance with Nasdaq’s minimum bid rule.

Read more at CoinTelegraph: Crypto Miner Canaan Shares Sink 7% Despite Strong Q4