Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Canaan ( (CAN) ) just unveiled an announcement.
Canaan Inc. reported a 10% increase in bitcoins mined in August 2025, with a total of 98 bitcoins produced. The company expanded its operations significantly in the U.S., Southeast Asia, and Ethiopia, achieving an installed computing power of 8.6 EH/s and expecting to exceed 10 EH/s. Canaan also announced a partnership with Luxor Technology Corporation to provide flexible financing solutions, facilitating the sale of over 5,000 Avalon® A15 Pro bitcoin mining machines. This strategic move is expected to enhance institutional adoption and capital deployment, strengthening Canaan’s position in the bitcoin mining industry.
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 poor financial performance, characterized by consistent losses and negative cash flows. While the earnings call showed some positive developments, such as revenue growth and improved EBITDA, the ongoing operational inefficiencies and valuation concerns weigh heavily on the stock’s attractiveness.
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, chip research and development, computing equipment production, and software services. The company is known for its expertise in chip design and streamlined production in the ASIC field, having introduced the first batch of mining machines incorporating ASIC technology under the brand name Avalon. Canaan completed its initial public offering on the Nasdaq Global Market in 2019.
Average Trading Volume: 39,023,668
Technical Sentiment Signal: Sell
Current Market Cap: $331.1M
For detailed information about CAN stock, go to TipRanks’ Stock Analysis page.