---
title: "Canaan shares drop after CEO cites Middle East conflict affecting Bitcoin miners, with $88.7M Q1 net loss."
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286945974.md"
description: "Canaan, a Bitcoin mining company, experienced a decline in shares following the announcement of an $88.7 million net loss in the first quarter. This marks the company's second consecutive quarter of negative financial performance."
datetime: "2026-05-19T16:21:35.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286945974.md)
  - [en](https://longbridge.com/en/news/286945974.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286945974.md)
---

# Canaan shares drop after CEO cites Middle East conflict affecting Bitcoin miners, with $88.7M Q1 net loss.

Canaan, a Bitcoin mining company, experienced a decline in shares following the announcement of an $88.7 million net loss in the first quarter. This marks the company's second consecutive quarter of negative financial performance.

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