Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
BTC 
ETH Jiannan Technology releases unaudited financial results for the second quarter of 2026
On September 8, cryptocurrency mining hardware manufacturer Jiannan Technology (Nasdaq: CAN) announced its unaudited financial results for the second quarter of 2026.
data shows that Jiannan Technology achieved revenue of US$31.9 million in the second quarter of 2026, a decline from US$62.7 million in the first quarter of 2026 and US$100.2 million in the second quarter of 2025. The latest revenue data dropped significantly by 68% year-on-year.
Product and mining revenue both shrank
In the second quarter of 2026, the company's product business revenue was US$13.6 million, which was lower than US$42.9 million in the first quarter of 2026 and US$71.9 million in the second quarter of 2025, a year-on-year decrease of 81%.
During the same period, the company's cryptocurrency mining business revenue was US$17.7 million, which also decreased compared with US$19.1 million in the first quarter of 2026 and US$28.1 million in the second quarter of 2025, a year-on-year decrease of 37%.
The company pointed out that the decline in product and mining revenue was mainly due to the decline in the average price of Bitcoin.
Gross profit margin is under pressure, and CEO admits that the industry is in a "difficult period"
In terms of finance, Jiannan Technology's gross loss in the second quarter of 2026 was US$29.3 million, compared with US$22.9 million in the first quarter of 2026; in contrast, the company recorded a gross profit of US$9.3 million in the same period in 2025.
Zhang Nangang, chairman and CEO of Jiannan Technology, said that the last quarter was a "difficult period" for the Bitcoin mining industry. Due to factors such as sluggish currency prices, weakening economic benefits of mining, and seasonal power restrictions, equipment demand and profitability are under tremendous pressure.
Asset dynamics and repurchase plan
Although the company only mined 243 bitcoins in the second quarter of 2025, as of June 30, the company held a record 1,915.5 bitcoins and 3,952 Ethereum.
In late August this year, the company sold 54 bitcoins and received approximately US$13.9 million in cash. Part of the funds will be used for share repurchase. As of September 8, the company had spent approximately US$7.4 million to repurchase approximately 16.4 million shares of American Depositary Receipts (ADSs).
Jianan Technology emphasized that the recent sale of some Bitcoin positions does not represent a change in its long-term digital asset strategy.
CAN stock prices were flat at $0.32 per share at deadline.
