Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Canaan ( (CAN) ) has provided an update.
On July 17, 2025, Canaan Inc. announced a significant agreement with Cipher Mining Inc. to supply approximately 6,840 Avalon A15Pro miners to Cipher’s Black Pearl facility in the third quarter of 2025. This marks Canaan’s first major initiative to provide large-scale domestic manufacturing support for U.S.-based bitcoin mining customers, highlighting the growing demand amid bitcoin’s renewed momentum. The partnership with Cipher, which is on its fourth order from Canaan, underscores the trust in Canaan’s high-performance and reliable bitcoin mining solutions, contributing to a rapid increase in Cipher’s operational hashrate.
The most recent analyst rating on (CAN) stock is a Buy with a $4.00 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, with consistent losses and negative cash flows. Despite strong revenue growth in the latest earnings call, challenges such as tariff impacts and bitcoin price volatility remain significant risks. Technical indicators suggest caution due to potential overbought conditions, and valuation metrics highlight profitability concerns.
To see Spark’s full report on CAN stock, click here.
More about Canaan
Canaan Inc., established in 2013, is a technology company that specializes in ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. The company is known for its extensive experience in chip design and production in the ASIC field, having shipped the world’s first batch of mining machines incorporating ASIC technology in bitcoin’s history under the brand name Avalon. Canaan completed its initial public offering on the Nasdaq Global Market in 2019.
Average Trading Volume: 36,530,852
Technical Sentiment Signal: Sell
Current Market Cap: $300.9M
Learn more about CAN stock on TipRanks’ Stock Analysis page.