Canaan Inc. engages in the research, design, and sale of integrated circuit (IC) final system products by integrating IC products for bitcoin mining and related components primarily in the People's Republic of China. It is also involved in the assembly of system products; and supply chain and distribution of system products. The company has a strategic cooperation with Northern Data AG in the areas of artificial intelligence development, blockchain technology, and datacenter operations. The company was founded in 2013 and is based in Hangzhou, the People's Republic of China.
IPO Year: 2019
Exchange: NASDAQ
Website: canaan-creative.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
9/18/2024 | $2.00 | Buy | B. Riley Securities |
9/11/2024 | $3.00 | Buy | Rosenblatt |
7/6/2022 | $5.00 | Buy | H.C. Wainwright |
6/8/2022 | $9.00 | Buy | The Benchmark Company |
4/5/2022 | $15.00 | Buy | DA Davidson |
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6-K - Canaan Inc. (0001780652) (Filer)
6-K - Canaan Inc. (0001780652) (Filer)
SINGAPORE, Dec. 2, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that the Company will participate in the following investor conferences in December 2024. Canaan's management plans to host one-on-one meetings with institutional investors at the conferences. B. Riley Securities Energy Convergence ConferenceNew York, NYDecember 4, 2024 Benchmark 13th Annual Discovery One-on-One ConferenceNew York, NYDecember 11, 2024 Northland Growth ConferenceVirtualDecember 12, 2024 For more information about the conference or to schedule a one-on-one meeting, please contact your representative at each inst
SINGAPORE, Nov. 26, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it has closed the previously announced Series A-1 preferred shares financing (the "Preferred Shares Financing"), raising total gross proceeds of US$30 million. On November 19, 2024, the Company entered into a securities purchase agreement ("Securities Purchase Agreement") with an institutional investor (the "Buyer"), pursuant to which the Company agreed to issue and sell to the Buyer 30,000 Series A-1 Convertible Preferred Shares (the "Preferred Shares") at the price of US$1,000.00 for each Preferred Share. The foregoin
This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated October 3, 2024 to its short form base shelf prospectus dated September 11, 2024.Vancouver, British Columbia--(Newsfile Corp. - November 21, 2024) - HIVE Digital Technologies Ltd. (TSXV:HIVE) (NASDAQ:HIVE) (FSE: YO0) (referred to as the "Company" or "HIVE"), a global leader in sustainable blockchain infrastructure is pleased to announce a significant fleet upgrade with the purchase of 5,000 state-of-the-art Avalon A15-194T ASIC miners from Canaan Inc. (NASDAQ:CAN). The terms align with our previous Canaan purchases, which we believe are much better for driving our cash flow
This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated October 3, 2024 to its short form base shelf prospectus dated September 11, 2024.Vancouver, British Columbia--(Newsfile Corp. - November 21, 2024) - HIVE Digital Technologies Ltd. (TSXV:HIVE) (NASDAQ:HIVE) (FSE: YO0) (referred to as the "Company" or "HIVE"), a global leader in sustainable blockchain infrastructure is pleased to announce a significant fleet upgrade with the purchase of 5,000 state-of-the-art Avalon A15-194T ASIC miners from Canaan Inc. (NASDAQ:CAN). The terms align with our previous Canaan purchases, which we believe are much better for driving our cash flo
- Total Revenue Increased to US$73.6 Million, up 120.9% YoY -- Total Computing Power Sold Achieved 7.3 Million Thash/s, up 93.8% YoY - SINGAPORE, Nov. 20, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced its unaudited financial results for the three months ended September 30, 2024. Third Quarter 2024 Operating and Financial Highlights Revenues were US$73.6 million, which beat the previous guidance of US$73 million and increased 120.9% year-over-year. Total computing power sold was 7.3 million Thash/s, representing a year-over-year increase of 93.8%. Mining revenue was US$9.0 million, with 147
Continues expansion of its self-mining expansion and Bitcoin mining machine business in North America SINGAPORE, Nov. 20, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company" or "We"), a leading high-performance computing solutions provider, today announced that it has entered into a securities purchase agreement (the "Securities Purchase Agreement") with an institutional investor (the "Buyer"), pursuant to which the Company shall issue and sell to the Buyer up to 30,000 Series A-1 Preferred Shares (the "Series A-1 Preferred Shares") at the price of US$1,000.00 for each Series A-1 Preferred Share. Canaan agreed that the proceeds from the sale of the Series A-1 Preferred S
Complementing the Earlier November Order of 6,500 Avalon A1566 Miners SINGAPORE, Nov. 20, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that Canaan Creative Global Pte. Ltd. ("CCG"), a wholly owned Singapore subsidiary of the Company, has entered into a follow-on order purchase agreement with HIVE Digital Technologies Ltd ("HIVE"), for its Avalon A15-194T miners. According to the purchase agreement, CCG will provide HIVE with 5,000 Avalon A15-194T miners, with an average computing power of 194 Terahash per second (TH/s), expected to be delivered in the first quarter of 2025. "We sincerely
Plans to install Avalon A14 and A15 mining machines at joint mining sites Takes significant steps toward 10 EH/s capacity in North America by mid-2025 SINGAPORE, Nov. 20, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that its wholly owned subsidiary, Beet Digital LLC., has entered into a strategic joint mining agreement with Luna Squares Texas LLC ("LS Texas"), a West Texas Bitcoin mining firm, to collaborate on mining activities at LS Texas' mining site. The agreement is part of the Company's plan to reach 10 exahash per second (EH/s) capacity in North America by mid-2025. Under the agre
SINGAPORE, Nov. 14, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it plans to report its financial results for the third quarter ended September 30, 2024, before the U.S. market opens on November 20, 2024. The Company's management team will hold a conference call at 8:00 A.M. on November 20, 2024, U.S. Eastern Time (9:00 P.M. on the same day, Singapore Time) to discuss the financial results. Details for the conference call are as follows: Event Title: Canaan Inc. Third Quarter 2024 Earnings Conference CallRegistration Link: https://register.veven
This news release constitutes a "designated news release" for the purposes of the Company's prospectus supplement dated October 3, 2024 to its short form base shelf prospectus dated September 11, 2024.Vancouver, British Columbia--(Newsfile Corp. - November 11, 2024) - HIVE Digital Technologies Ltd. (TSXV:HIVE) (NASDAQ:HIVE) (FSE: YO0) (the "Company" or "HIVE"), a leader in sustainable blockchain infrastructure, is pleased to announce a major order for 6,500 Canaan Avalon A1566 ASIC Miners from Canaan Inc. (NASDAQ:CAN) and provide an update on its Paraguay facility.Executive Insights:Frank Holmes, Executive Chairman, remarked, "Our disciplined capital management allows us to seize opportuniti
B. Riley Securities initiated coverage of Canaan with a rating of Buy and set a new price target of $2.00
Rosenblatt initiated coverage of Canaan with a rating of Buy and set a new price target of $3.00
H.C. Wainwright initiated coverage of Canaan with a rating of Buy and set a new price target of $5.00
The Benchmark Company initiated coverage of Canaan with a rating of Buy and set a new price target of $9.00
DA Davidson initiated coverage of Canaan with a rating of Buy and set a new price target of $15.00
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U.S. Urology Partners announced today that internationally recognized technology leader Chris Boult has joined the company as Chief Information Officer. U.S. Urology Partners is one of the nation's largest independent providers of urological and related specialty services, including general urology, surgical and robotic procedures, advanced cancer treatment and other ancillary services. Boult will lead information technology strategy and initiatives for the rapidly growing U.S. Urology Partners clinical network which now consists of more than 50 locations throughout the East Coast and Midwest. U.S. Urology Partners partnered with NMS Capital in 2018 to support urology practices in communi
BEIJING, Sept. 13, 2021 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it has dismissed PricewaterhouseCoopers Zhong Tian LLP ("PwC") as the Company's independent auditor on September 9, 2021 and has approved the appointment of KPMG Huazhen LLP ("KPMG") as the independent auditor of the Company, effective September 13, 2021. The change of the Company's independent auditor was made after careful consideration and evaluation process and was approved by the Audit Committee and the Board of Directors of the Company. The reports of PwC on the Company's consolidated financial statements as of and f
BEIJING, Aug. 2, 2021 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced the appointment of Mr. James Jin Cheng to the position of Chief Financial Officer, effective immediately. Mr. Tong He will cease to serve as the Company's acting Chief Financial Officer but will maintain his position as the Company's Director of Finance. Mr. Cheng has more than 20 years of experience in financial planning and management. Prior to joining Canaan, Mr. Cheng served as a Vice President for Zhaopin.com, a career platform in China formerly listed on the NYSE, from September 2015 to July 2021. Between September 2013 to
- Achieves Record-high Bitcoin Mining Computing Power of 3.8EH/s Installed as of February-end 2023 - BEIJING, March 7, 2023 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced its unaudited financial results for the three months and twelve months ended December 31, 2022. Fourth Quarter 2022 Operating and Financial Highlights Total computing power sold was 1.9 million Thash/s, representing a decrease of 45.8% from 3.5 million Thash/s in the third quarter of 2022 and a decrease of 75.8% from 7.7 million Thash/s in the same period of 2021. Revenues were RMB391.9 million (US$56.8 million), representing a d
BEIJING, Feb. 23, 2023 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it plans to report its financial results for the fourth quarter and full year ended December 31, 2022, before the U.S. market opens on March 7, 2023. The Company's management team will hold a conference call at 8:00 A.M. on March 7, 2023, U.S. Eastern Time (9:00 P.M. on the same day, Beijing Time) to discuss the financial results. Details for the conference call are as follows: Event Title: Canaan Inc. Fourth Quarter and Full Year 2022 Earnings Conference CallRegistration Link: http
BEIJING, Nov. 14, 2022 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced its unaudited financial results for the three months ended September 30, 2022. Third Quarter 2022 Operating and Financial Highlights Total computing power sold was 3.5 million Thash/s, representing a decrease of 37.1% from 5.5 million Thash/s in the second quarter of 2022 and a decrease of 48.5% from 6.7 million Thash/s in the same period of 2021. Revenues were RMB978.2 million (US$137.5 million), representing a decrease of 40.8% from RMB1,652.7 million in the second quarter of 2022 and a decrease of 25.8% from RMB1,317.6 millio
BEIJING, Nov. 4, 2022 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it plans to report its financial results for the third quarter ended September 30, 2022, before the U.S. market opens on November 14, 2022. The Company's management team will hold a conference call at 7:00 A.M. on November 14, 2022, U.S. Eastern Time (8:00 P.M. on the same day, Beijing Time) to discuss the financial results. Details for the conference call are as follows: Event Title: Canaan Inc. Third Quarter 2022 Earnings Conference CallRegistration Link: https://register.vevent.c
BEIJING, Aug. 18, 2022 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced its unaudited financial results for the three months ended June 30, 2022. Second Quarter 2022 Operating and Financial Highlights Total computing power sold was 5.5 million Thash/s, representing an increase of 27.5% from 4.3 million Thash/s in the first quarter of 2022 and a decrease of 7.7% from 5.9 million Thash/s in the same period of 2021. Revenues were RMB1,652.7 million (US$246.7 million), representing an increase of 21.9% from RMB1,356.1 million in the first quarter of 2022 and an increase of 52.8% from RMB1,081.8 million
BEIJING, Aug. 3, 2022 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it plans to report its financial results for the second quarter ended June 30, 2022, before the U.S. market opens on August 18, 2022. The Company's management team will hold a conference call at 8:00 A.M. on August 18, 2022, U.S. Eastern Time (8:00 P.M. on the same day, Beijing Time) to discuss the financial results. Details for the conference call are as follows: Event Title: Canaan Inc. Second Quarter 2022 Earnings Conference Call Registration Link: https://register.vevent.c
BEIJING, May 19, 2022 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced its unaudited financial results for the three months ended March 31, 2022. First Quarter 2022 Operating and Financial Highlights Total computing power sold was 4.3 million Thash/s, representing an increase of 119.1% from 2.0 million Thash/s in the same period of 2021. Revenues were RMB1,356.1 million (US$213.9 million), representing an increase of 236.7% from RMB402.8 million in the same period of 2021. Gross profit was RMB829.8 million (US$130.9 million), representing an increase of 327.2% from RMB194.2 million in the same perio
BEIJING, May 9, 2022 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it plans to report its financial results for the first quarter ended March 31, 2022, before the U.S. market opens on May 19, 2022. The Company's management team will hold a Direct Event earnings conference call at 8:00 A.M. on May 19, 2022, U.S. Eastern Time (8:00 P.M. on the same day, Beijing Time) to discuss the financial results. Details for the conference call are as follows: Event Title: Canaan Inc. First Quarter 2022 Earnings Conference Call Registration Link: http://apac.directeventreg.com/registration/event/473
BEIJING, March 3, 2022 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced its unaudited financial results for the three months and twelve months ended December 31, 2021. Fourth Quarter 2021 Operating and Financial Highlights Total computing power sold was 7.7 million Thash/s, compared to 0.2 million Thash/s in the same period of 2020, and up 15.5% from 6.7 million Thash/s in the third quarter of 2021, setting a new record. The robust year-over-year and sequential increases were mainly driven by the solid market demand and the responsive delivery of Bitcoin mining machines. As of December 31, 2021, the
BEIJING, Feb. 17, 2022 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it plans to release its fourth quarter and full year 2021 financial results before the market opens on Thursday, March 3, 2022. The Company's management team will hold a Direct Event conference call on Thursday, March 3, 2022, at 7:00 A.M. Eastern Time (or 8:00 P.M. Beijing Time on the same day) to discuss the financial results. Details for the conference call are as follows: Event Title: Canaan Inc. Fourth Quarter and Full Year 2021 Earnings Conference Call Registration Link: http://apac.directeventreg.com/registrati
U.S. index futures are trading in a listless manner, as traders look ahead to the all-important monthly non-farm payrolls data. ADP’s private payrolls survey showed that job gains slowed more than expected. In the eventuality of the number coming in line or softer than expected, the market’s reaction will likely be positive if traders focus on its implications for rates. Alternatively, if they perceive it to be an added evidence of economic weakness, a sell-off is likely. A Federal Reserve official issued ambiguous comments in a public appearance on Friday. The central bank has made rapid strides in bringing inflation to the 2% central bank target but it is still “a way” from achieving th
Gainers Quantum (NASDAQ:QMCO) shares rose 20.9% to $0.71 during Monday's regular session. The company's market cap stands at $68.2 million. As per the press release, Q4 earnings came out today. Canaan (NASDAQ:CAN) shares moved upwards by 18.38% to $1.21. The company's market cap stands at $345.4 million. EMCORE (NASDAQ:EMKR) shares moved upwards by 17.3% to $1.01. The market value of their outstanding shares is at $8.3 million. Soluna Holdings (NASDAQ:SLNH) shares rose 13.95% to $4.21. The company's market cap stands at $16.4 million. VirnetX Holding (NYSE:VHC) stock moved upwards by 12.6% to $4.2. The company's market cap stands at $15.4 million. Nortech Systems (NASDAQ:NSYS) shares m
According to the Agreement, Cipher Mining has acquired 6,600 units of Canaan's latest product, the Avalon Miner A1566, which features advanced computing power and power efficiency. The initial order is expected to be delivered in the fourth quarter of 2024. In conjunction with the Agreement, Cipher also secured an option to purchase additional mining machines, which fulfill a total capacity of up to 160 megawatts. This option provides Cipher with the flexibility to scale their operations as needed.
Key Takeaways: Canaan’s revenue fell 36% year-on-year in the first quarter even as the prices of bitcoin and other cryptocurrencies skyrocketed Demand for the company’s mining machines waned as a sharp drop in the amount of new bitcoin being created substantially curtailed the profitability of crypto mining By Warren Yang In the crypto universe, it appears that one man’s fortune is sometimes another’s misfortune. Bitcoin and other digital currencies may be back on a bull run, with prices for the digital currency roughly doubling in the last six months. But that doesn’t mean that a prolonged industry winter is over for companies making the powerful computers used to mine such virtual
HC Wainwright & Co. analyst Kevin Dede reiterates Canaan (NASDAQ:CAN) with a Buy and maintains $3 price target.
Canaan Inc (NASDAQ:CAN) reported a fiscal first-quarter 2024 revenue decline of 36.5% year-on-year to $35.09 million, beating the analyst consensus estimate of $30.10 million. Earnings per ADS loss of $(0.16) beat the analyst consensus estimate loss of $(0.36). The stock price gained after the print. Products revenue in the first quarter of 2024 was $23.4 million, compared to $44.1 million Y/Y. Mining revenue in the first quarter of 2024 was $10.5 million, representing a decrease of 5.7% Y/Y. The company sold a total computing power of 3.4 million Thash/s. Canaan held $54.7 million in cash and equivalents as of March-end. The company’s holdings of Bitcoin surpassed 1,000 for th
The number of Bitcoins held by the Company surpassed 1,000 for the first time to reach record-high 1,057 Bitcoins.