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Canaan
(NASDAQ:CAN)
Canaan (CAN) vs. SPDR S&P 500 ETF (SPY)
Canaan Business Overview & Revenue Model
Canaan Earnings Call Summary
Canaan Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 345.36M | 269.32M | 211.48M | 651.53M | 771.14M | 68.58M |
| Gross Profit | -17.91M | -84.32M | -240.78M | 230.29M | 440.83M | 5.79M |
| EBITDA | -113.12M | -143.33M | -330.11M | 76.87M | 285.16M | -34.11M |
| Net Income | -265.97M | -249.75M | -414.15M | 69.88M | 308.44M | -32.95M |
Balance Sheet | ||||||
| Total Assets | 592.17M | 463.01M | 493.30M | 690.00M | 884.74M | 158.76M |
| Cash, Cash Equivalents and Short-Term Investments | 65.90M | 96.49M | 96.15M | 105.65M | 421.67M | 69.50M |
| Total Debt | 48.19M | 94.99M | 1.43M | 3.75M | 4.88M | 9.90M |
| Total Liabilities | 268.57M | 196.76M | 145.11M | 77.86M | 341.44M | 92.50M |
| Stockholders Equity | 323.60M | 266.25M | 348.19M | 607.67M | 543.31M | 66.26M |
Cash Flow | ||||||
| Free Cash Flow | -386.52M | -218.57M | -126.93M | -1.82B | 196.23M | 50.69M |
| Operating Cash Flow | -276.46M | -199.26M | -123.62M | -1.73B | 201.86M | 52.75M |
| Investing Cash Flow | 134.51M | 60.97M | 39.63M | -30.86M | 846.22K | -46.87M |
| Financing Cash Flow | 270.77M | 139.75M | 90.00M | -371.93M | 138.93M | -118.59M |
Canaan Technical Analysis
Canaan Risk Analysis
Canaan Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | $602.15M | -17.19 | -5.88% | ― | 9.79% | 63.17% | |
50 Neutral | $357.94M | -1.35 | -10.03% | ― | 42.17% | -215.37% | |
48 Neutral | $444.18M | -1.20 | -62.67% | ― | 83.38% | 50.44% | |
48 Neutral | $280.65M | -24.15 | 7.15% | ― | -11.78% | ― | |
47 Neutral | $82.67M | -4.18 | -12.36% | ― | -66.00% | 28.84% | |
46 Neutral | $22.67M | -1.19 | -7.04% | ― | 154.52% | 47.31% |
Canaan Corporate Events
Canaan Inc. has renewed its US$30 million share buyback program, reflecting confidence in its long-term value and strategic progress, while highlighting improved operational performance and expanded global customer engagement in Q3 2025. This move underscores the company’s disciplined capital allocation and commitment to shareholder value amidst industry volatility and conservative market valuation comparisons, positioning it as a resilient player in the crypto-mining sector.
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.
Canaan Inc. reported its November 2025 bitcoin production and mining operations, highlighting an increase in both deployed and operating hashrates despite market challenges. The company achieved a stable production of 89 BTC and expanded its cryptocurrency treasury to 1,730 BTC and 3,951 ETH. Canaan’s strategic acquisition of 100 BTC during price dips and its plans to bring online approximately 1 EH/s of mining capacity by year-end underscore its focus on sustainable growth. Additionally, a significant US$72 million investment from top-tier institutional investors and the launch of the next-generation Avalon A16 series mining machines further bolster Canaan’s market position and growth prospects.
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.
On November 18, 2025, Canaan Inc. announced its unaudited financial results for the third quarter of 2025, showcasing a strong performance with total revenues reaching $150.5 million, a 104.4% increase year-over-year. The company achieved record-breaking sales in computing power and mining revenues, with significant growth in its cryptocurrency treasury. Canaan’s strategic initiatives, including the introduction of new products and expansion in North America, have bolstered its market position and operational efficiency, despite challenges such as increased mining difficulty and tariff pressures.
The most recent analyst rating on (CAN) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on Canaan stock, see the CAN Stock Forecast page.
Canaan Inc. reported its October 2025 bitcoin mining operations, highlighting a consistent operational performance with improvements in deployed and operating hashrate, miner efficiency, and installed power capacity. The company produced 92 BTC and increased its cryptocurrency treasury to 1,610 BTC and 3,950 ETH. Notable developments include a gas-to-computing pilot in Canada and the unveiling of the Avalon A16 series, which features advanced energy-efficient technology. Canaan also secured a significant U.S. order for over 50,000 Avalon A15 Pro mining machines and regained compliance with Nasdaq’s minimum bid price requirement, reflecting confidence in its strategic direction and operations.
The most recent analyst rating on (CAN) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on Canaan stock, see the CAN Stock Forecast page.
On November 7, 2025, Canaan Inc. announced the successful closing of a US$72 million registered direct offering with institutional investors including Brevan Howard, Galaxy Digital, and Weiss Asset Management. This offering, initially announced on November 4, 2025, involves the sale of American depositary shares, each representing 15 Class A ordinary shares, at a price of US$1.131 per ADS. This capital infusion is expected to enhance Canaan’s operational capabilities and strengthen its market position in the crypto mining industry.
The most recent analyst rating on (CAN) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on Canaan stock, see the CAN Stock Forecast page.
On November 4, 2025, Canaan Inc. announced a strategic investment of $72 million from Brevan Howard, Galaxy Digital, and Weiss Asset Management through the purchase of American depositary shares. This investment, which involves no derivative instruments, marks a significant shift in Canaan’s capital markets strategy, aligning it with prominent institutional investors in the digital asset ecosystem. The capital will enhance Canaan’s financial position, focusing on high-return computing and energy infrastructure projects, thereby reducing reliance on future capital raises.
The most recent analyst rating on (CAN) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Canaan stock, see the CAN Stock Forecast page.
On November 4, 2025, Canaan Inc. announced a US$72 million registered direct offering of American Depositary Shares (ADSs), with plans to issue 63,660,477 ADSs at a price of US$1.131 each. The proceeds from this offering are intended to fund the acquisition and development of data center sites in North America, expand Bitcoin mining machine production capacity, and support research and development. This strategic move is expected to enhance Canaan’s operational capabilities and strengthen its market position in the digital mining industry.
The most recent analyst rating on (CAN) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Canaan stock, see the CAN Stock Forecast page.
Canaan Inc. announced updates to its at-the-market (ATM) offering program, raising approximately $7.8 million through the sale of about 4.84 million American depositary shares at an average price of $1.61 per ADS. The company has paused further sales for the rest of 2025, with future sales dependent on market conditions and cash requirements. This move is part of Canaan’s strategy to enhance financial flexibility for growth initiatives. Additionally, Canaan launched its latest bitcoin mining machine, the Avalon A16 series, on October 28, 2025, showcasing advancements in power efficiency and manufacturing quality.
The most recent analyst rating on (CAN) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Canaan stock, see the CAN Stock Forecast page.
Canaan Inc. announced on October 30, 2025, a significant 4.5-megawatt sales contract with a Japanese utility to deploy Avalon A1566HA-488T hydro-cooled mining servers. This project aims to enhance grid stability and efficiency in Japan by using Canaan’s advanced smart control chip technology. The initiative highlights Canaan’s strategic positioning at the intersection of AI infrastructure, renewable energy, and blockchain computing, aligning with Japan’s digital-asset reforms and showcasing its commitment to sustainable energy solutions.
The most recent analyst rating on (CAN) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Canaan stock, see the CAN Stock Forecast page.
Canaan Inc. announced the launch of its latest Avalon A16 series bitcoin mining machine at the Blockchain Life 2025 summit in Dubai on October 28, 2025. The A16XP model offers 300 terahash per second with an energy efficiency of 12.8 joules per terahash, marking a significant advancement in mining performance. This launch underscores Canaan’s commitment to innovation and strengthens its position in the bitcoin mining industry by enhancing operational efficiency and expanding its global footprint.
The most recent analyst rating on (CAN) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Canaan stock, see the CAN Stock Forecast page.
On October 24, 2025, Canaan Inc. announced the launch of a new at-the-market equity offering program, allowing the company to sell up to $270 million worth of American depositary shares. The proceeds from this program are intended to fund the development of data center sites in North America, expand Bitcoin mining machine production, and support general corporate purposes. This strategic move is expected to enhance Canaan’s operational capabilities and strengthen its position in the digital mining industry.
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.
Canaan Inc. announced on October 16, 2025, that it has regained compliance with the Nasdaq minimum bid price requirement, as its American depositary shares maintained a closing bid price of $1.00 or greater for ten consecutive business days. This achievement reflects market confidence in Canaan’s strategic initiatives and operational resilience, as the company continues to expand its global market presence through significant orders and partnerships, such as a large U.S. order for Avalon A15 Pro bitcoin miners and a ‘Gas-to-Computing’ initiative in Canada.
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.
Canaan Inc. announced on October 13, 2025, the launch of a pilot project in Calgary, Canada, in partnership with Aurora AZ Energy Ltd. This initiative aims to convert flared natural gas into low-cost power for high-density computing, including bitcoin mining and AI data centers. The project is expected to demonstrate significant environmental benefits by reducing CO₂-equivalent emissions by 12,000 to 14,000 metric tons annually and provide a scalable model for energy-efficient infrastructure. By using natural gas that would otherwise be flared, Canaan’s project aligns environmental benefits with strong economic outcomes, potentially transforming wasted resources into productive energy.
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.
In September 2025, Canaan Inc. achieved significant milestones in its bitcoin mining operations, including a record deployed hashrate of 9.30 EH/s and a cryptocurrency treasury of 1,582 BTC and 2,830 ETH. The company enhanced its mining efficiency in North America and expanded its renewable-powered mining strategy with a new partnership in Texas. Additionally, Canaan secured its largest order in three years for over 50,000 Avalon A15 Pro miners, highlighting its technological leadership and strengthening its position in the U.S. bitcoin mining market.
The most recent analyst rating on (CAN) stock is a Hold with a $1.75 price target. To see the full list of analyst forecasts on Canaan stock, see the CAN Stock Forecast page.
On October 2, 2025, Canaan Inc. announced a significant purchase order from a U.S.-based bitcoin miner for over 50,000 Avalon A15 Pro mining machines, marking the largest order in the past three years. This milestone underscores Canaan’s technological strength and reinforces its market leadership amid a resurgence in U.S. bitcoin mining. The order highlights the company’s commitment to delivering high-quality, efficient mining infrastructure and strengthening its partnerships in the U.S. market.
The most recent analyst rating on (CAN) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on Canaan stock, see the CAN Stock Forecast page.
On September 30, 2025, Canaan Inc. announced a strategic partnership with Soluna Holdings to deploy 20 megawatts of Avalon A15 XP Bitcoin miners at Soluna’s wind-powered data center in Texas. This collaboration marks a significant step for Canaan in expanding its North American mining operations, leveraging Soluna’s renewable energy infrastructure to enhance sustainability and cost efficiency. The deployment is expected in the first quarter of 2026, aligning with Canaan’s strategy to grow its presence in the region and meet the increasing demand for secure blockchain infrastructure.
The most recent analyst rating on (CAN) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on Canaan stock, see the CAN Stock Forecast page.