[Canaan Technology's Q3 Revenue Drops 90% YoY, Net Profit Reaches $8 Million] According to an official announcement, Bitcoin mining machine manufacturer Canaan Technology (Nasdaq: CAN) released its unaudited financial results for the third quarter of 2026. Total revenue was $14.5 million, a 90.37% decrease year-over-year and a 54.55% decrease quarter-over-quarter. Mining machine revenue was $4.8 million, and mining revenue was $9.5 million. Net profit for the quarter was $8 million, compared to a net loss of $27.7 million in the same period last year and a net loss of $97.6 million in the previous quarter. As of September 30, the company held approximately 1,875 BTC and mined 133 BTC during the quarter. Canaan Technology expects fourth-quarter revenue to be between $18 million and $22 million and announced the launch of the first phase of a $20 million share repurchase program under a $100 million authorized limit.