Canaan Inc. Realigns Focus to Strengthen Crypto Business

Canaan ( (CAN) ) has shared an update.

On June 23, 2025, Canaan Inc. announced a strategic realignment to focus on its core businesses related to cryptocurrency, such as bitcoin mining machine sales and self-mining operations. The company will discontinue its non-core AI semiconductor business, which accounted for a small portion of its revenue and operating expenses in 2024, to streamline operations and enhance capital efficiency. This move is expected to reduce operating expenses significantly and allow Canaan to concentrate on its strengths in the digital asset ecosystem, aiming to drive sustainable growth and maintain its leadership in the global crypto market.

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 Neutral.

Canaan’s overall stock score is primarily impacted by its poor financial performance, characterized by ongoing losses and negative cash flow. The technical analysis also indicates weak market momentum. Despite positive earnings call highlights, such as strong revenue growth, the uncertainty from withdrawn guidance due to macroeconomic factors weighs heavily on the stock’s outlook.

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

More about Canaan

Established in 2013, Canaan Inc. is a technology company specializing in ASIC high-performance computing chip design, computing equipment production, and software services. Known for its pioneering work in bitcoin mining machines, Canaan has a strong focus on the cryptocurrency infrastructure market.

Average Trading Volume: 26,716,027

Technical Sentiment Signal: Sell

Current Market Cap: $187.2M

For detailed information about CAN stock, go to TipRanks’ Stock Analysis page.