Canaan Inc., the Nasdaq-listed Bitcoin miner and ASIC manufacturer, just posted the kind of efficiency numbers that make competitors quietly update their spreadsheets. The company’s North American self-mining fleet hit 17.9 joules per terahash (J/TH) in May 2026, a new record and an 11% improvement compared to a year earlier.
The numbers behind the record
The 17.9 J/TH figure represents a meaningful step forward from the 18.7 J/TH the company reported for its North American non-JV operations in March and April 2026. That’s a roughly 4% improvement in just a couple of months, on top of the broader year-over-year gains.
Globally, Canaan’s average fleet efficiency landed at 23.7 J/TH, reflecting a 13.5% year-over-year improvement.
On the production side, Canaan mined 90 BTC during May and received an additional 24 BTC from customers. That brought the company’s total crypto treasury to approximately 1,867 BTC and 3,952 ETH, a new high-water mark for the firm.
