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Canaan ( (CAN) ) has issued an update.
On August 28, 2025, Canaan Inc. announced a new purchase order from Bitfury Group for Avalon® ASIC-powered upgrade kits to enhance Bitfury’s North American Bitcoin mining capacity by up to 10MW. This collaboration, part of a strategic relationship since July 2024, highlights both companies’ commitment to sustainable and cost-efficient mining solutions, with Canaan providing advanced technology and Bitfury leveraging its infrastructure expertise. The project emphasizes the importance of infrastructure reuse, energy optimization, and technical collaboration in the evolving mining sector.
The most recent analyst rating on (CAN) stock is a Hold with a $0.50 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 Neutral.
Canaan’s overall stock score is primarily impacted by its weak financial performance, characterized by consistent losses and negative cash flows. While the recent earnings call showed some positive developments, such as record revenue and improved EBITDA, the ongoing operational inefficiencies and valuation concerns weigh heavily on the score. Technical indicators suggest a bearish trend, further contributing to the low score.
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 the ASIC field, including the launch of the first mining machines under the Avalon brand. Canaan went public on the Nasdaq Global Market in 2019.
Average Trading Volume: 40,744,620
Technical Sentiment Signal: Sell
Current Market Cap: $352.4M
See more data about CAN stock on TipRanks’ Stock Analysis page.