Mining company Canaan reported a net loss of $88.7 million in Q1, with revenue remaining on par with guidance According to BlockBeats, on May 19th, Singapore based Bitcoin mining machine manufacturer and mining company Canaan announced a net loss of $88.7 million in the first quarter of 2026, while revenue was $62.7 million, which is basically in line with the company's previous performance guidance range. The net loss includes an operating loss of $54.3 million, a fair value change loss of $24.9 million on cryptocurrency holdings, a financial derivative loss of $16 million, and a foreign exchange loss of $4 million. Among them, $42.9 million came from product sales revenue, and $19.1 million came from mining business revenue. The company stated that the decline in revenue was mainly due to a decrease in the scale of computing power sold and a weakening of the average price of Bitcoin. [Original link]