Canaan reports Q3 EPS (5c), consensus (1c)

Reports Q3 revenue $150.5M, consensus $130.45M. Nangeng Zhang, chairman, and chief executive officer of Canaan (CAN), commented, “In the third quarter of 2025, we delivered a strong performance amid complex macro conditions and ongoing geopolitical friction. Our total revenue reached US$150.5 million, exceeding the high end of our guidance range, driven by record-breaking momentum in both mining machine sales and self-operated mining. We sold over 10 EH/s of computing power, marking a 55.6% sequential increase and setting a new quarterly high. Our Avalon Home product line also gained significant traction among retail and distributor channels, contributing more than 8% of total revenue for the quarter. Meanwhile, our installed mining fleet expanded to 9.3 EH/s by the end of the third quarter, supported by competitive power costs and rising efficiency, reinforcing our integrated strategy in mining operations.”