Canaan Inc. Achieves Record Bitcoin Production Amid Market Challenges

Canaan ( (CAN) ) just unveiled an update.

Canaan Inc. reported a significant increase in its bitcoin production for May 2025, achieving a 25% month-over-month growth despite increased tariffs on its Malaysia-made mining machines. The company mined a record 109 bitcoins, bringing its total holdings to 1,466 bitcoins, and reached new highs in installed and operational hashrates. This growth aligns with rising bitcoin prices and increased global demand for mining machines, reinforcing Canaan’s strategic focus on sustainable growth and shareholder value. Additionally, the company announced a $30 million stock repurchase program and the termination of a $100 million preferred share financing agreement due to market conditions.

The most recent analyst rating on (CAN) stock is a Buy with a $3.00 price target. To see the full list of analyst forecasts on Canaan stock, see the CAN Stock Forecast page.

Spark’s Take on CAN Stock

According to Spark, TipRanks’ AI Analyst, CAN is a Underperform.

Canaan’s overall stock score is primarily impacted by its weak financial performance and poor valuation metrics. The technical analysis also points to bearish trends, further weighing on the score. Although there were positive developments in the earnings call, such as revenue growth, they are overshadowed by external challenges and strategic uncertainties.

To see Spark’s full report on CAN stock, click here.

More about Canaan

Canaan Inc., established in 2013, is a technology company specializing in ASIC high-performance computing chip design, research and development, computing equipment production, and software services. The company is known for its pioneering work in ASIC technology for bitcoin mining and completed its initial public offering on the Nasdaq Global Market in 2019.

Average Trading Volume: 24,845,475

Technical Sentiment Signal: Sell

Current Market Cap: $184.2M

For an in-depth examination of CAN stock, go to TipRanks’ Stock Analysis page.