Canaan Creative, a major Bitcoin mining hardware manufacturer and operator, has taken a contrarian stance in the cryptocurrency mining industry by aggressively accumulating Bitcoin (BTC) and Ethereum (ETH) reserves while its competitors sell. According to its February unaudited mining update, the company produced 86 BTC during the month, bringing its total Bitcoin holdings to a company record of 1,793 BTC. Simultaneously, its Ether reserves reached an all-time high of 3,952 ETH.
At current market prices, Canaan's combined digital asset treasury is valued at approximately $128 million. This accumulation strategy starkly contrasts with the broader public mining sector, which has been under significant financial pressure. Publicly traded mining companies have collectively sold more than 15,000 BTC since October amid falling Bitcoin prices and rising operational costs that have squeezed profitability.
The sell-off trend intensified after Bitcoin peaked near $126,000 in October 2025 and subsequently declined by more than half, trading in the low-$60,000 range. In this environment, many miners have shifted from holding newly mined coins to actively liquidating reserves to bolster balance sheets.
Canaan is pairing its treasury growth with physical infrastructure expansion. The company reported that its installed hashrate reached 14.75 exahashes per second (EH/s). Furthermore, in February, Canaan expanded its U.S. footprint by acquiring a 49% stake in three Bitcoin mining projects in West Texas for $39.75 million. This move is expected to strengthen its presence in a key global mining region.
Chairman and CEO Nangeng Zhang emphasized the company's commitment to its long-term strategy of increasing digital asset reserves, positioning Canaan for future growth even as much of the industry prioritizes near-term liquidity and survival.
