The macroscopic failure of concrete used to form an artificial dam in an underground coal mine reservoir is the final manifestation of crack propagation and penetration: the mode of crack propagation is key to the safety evaluation of concrete structures. To improve the performance of concrete in such an artificial dam forming an underground coal mine reservoir, many scholars have investigated nano-modified concrete, but the effects of nanomaterials on the crack propagation mode and failure mode of saturated concrete are not yet fully understood. In the present research, uniaxial compression and acoustic emission (AE) experiments were conducted on saturated concrete specimens containing different types and amounts of nanomaterials, and the crack propagation mode, failure mode, and bearing capacity of different saturated concrete specimens were compared and studied. The results show that: the failure mode, crack propagation mode, and bearing capacity of saturated concrete can be modified by adding nanomaterials, and the type and content thereof can affect the modification effect provided. Considering the strength, bearing capacity, and crack-propagation mode, saturated concrete specimens containing 3 wt% nano-Al2O3 exhibit the best performance, with characteristics of high strength, high bearing capacity, steady crack propagation, and small-scale cracking. The results have guiding significance for damage-warning and safety assessment of hydraulic structures.