Overview
- Total revenue reached $150.5 million, up 104% year over year and 50% from Q2, as reported with the Q3 2025 results.
- Hardware momentum included more than 10 EH/s sold, while mining revenue hit a record $30.6 million and production totaled 267 bitcoin at about $114,485 per coin.
- Gross profit recovered to $16.6 million as the company reported a $27.7 million net loss that included a $9.5 million non-cash preferred-share impact, with adjusted EBITDA turning positive at $2.8 million.
- Liquidity rose to $119.2 million and crypto holdings stood at 1,582 BTC and 2,830 ETH at quarter-end, increasing to 1,610 BTC and 3,950 ETH by the end of October.
- A $72 million investment from Brevan Howard and Galaxy Digital supports North American datacenter growth as Canaan launches the A16XP (300 TH/s, 12.8 J/TH), fulfills a 50,000+ A15 Pro order, pilots gas-to-computing in Calgary, and guides Q4 revenue to $175–$205 million; shares rose nearly 16% intraday.