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Canaan ( (CAN) ) just unveiled an update.
In its unaudited update for January 2026, Canaan reported mining 83 bitcoins, expanding deployed hashrate to 10.07 EH/s with 6.63 EH/s operating, and achieving a record cryptocurrency treasury of 1,778 BTC and 3,951 ETH as of January 31. Despite macroeconomic pressures and severe winter storms in North America, the company maintained an average all-in power cost of US$0.043/kWh and improved global miner efficiency to 24.2 J/TH, underscoring operational resilience and scale across projects in the Americas, Ethiopia, the Middle East, and Malaysia.
Canaan also highlighted infrastructure growth, with 253.3 MW of installed power capacity globally and a total estimated computing power of 10.66 EH/s across nine active mining projects, including a gas-to-computing pilot in Canada. On January 6, 2026, it launched a 3 MW compute heat recovery proof-of-concept in Manitoba to reuse server heat for greenhouses, and under its renewed US$30 million share buyback program approved in December 2025, it had repurchased about 2.8 million ADSs for US$2 million by February 10, 2026, signaling management’s confidence and a push toward energy-efficiency leadership in crypto mining.
The most recent analyst rating on (CAN) stock is a Hold with a $0.65 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.
The score is held down primarily by weak financial performance (ongoing losses and negative cash flow) and bearish technicals (downtrend with negative momentum). A strong and optimistic Q3 earnings call with raised guidance provides meaningful support, but valuation signals are limited due to negative earnings and no dividend.
To see Spark’s full report on CAN stock, click here.
More about Canaan
Canaan Inc. is a technology company specializing in ASIC high-performance computing chip design, research and development, computing equipment production, and software services, with a core focus on crypto mining hardware under its Avalon brand. Founded in 2013 and listed on the Nasdaq Global Market since 2019, the company targets the global cryptocurrency mining market through both equipment sales and self-mining operations.
Average Trading Volume: 22,242,725
Technical Sentiment Signal: Sell
Current Market Cap: $331.3M
For a thorough assessment of CAN stock, go to TipRanks’ Stock Analysis page.