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 |
|---|---|---|---|
| 6/18/2025 | $1.50 | Market Perform | Northland Capital |
| 5/6/2025 | $3.00 | Buy | The Benchmark Company |
| 3/18/2025 | $2.50 | Buy | Compass Point |
| 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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Bitcoins mined month-over-month increases 10%, bitcoin treasury hits 1,547 Total estimated computing power exceeds 10 EH/s globally SINGAPORE, Sept. 8, 2025 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today released its unaudited bitcoin mining update for the month ending August 31, 2025. Management Commentary "We're pleased to report strong month-over-month improvement across all key metrics of our Bitcoin mining operations," said Nangeng Zhang, chairman and chief executive officer of Canaan. "In August, we mined 98 bitcoins, supported by our enhanced operating hashrate and continued low average power costs. We expanded our deployed
Announces initial sale of 5,000+ Avalon A15 Pro bitcoin miners SINGAPORE, Sept. 8, 2025 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today announced a partnership with Luxor Technology Corporation ("Luxor") to provide flexible financing solutions, potentially making it easier for customers to acquire Avalon® mining machines. Through this partnership, Luxor will directly offer its mining customers non-dilutive financing at highly competitive rates with low collateral requirements, which could lead to increased institutional adoption and capital deployment. The partnership already facilitated the sale of more than 5,000 Avalon® A15 Pro b
SINGAPORE, Sept. 2, 2025 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today announced that it will participate in the 5th Annual Needham Virtual Crypto Conference on September 4, 2025, and the 27th Annual H.C. Wainwright Global Investment Conference, taking place September 8 through September 10, 2025. Event Details: Conference: 5th Annual Needham Virtual Crypto ConferenceDate: September 4, 2025 Conference: 27th Annual H.C. Wainwright Global Investment ConferenceDate: September 8-10, 2025Location: New YorkInvestors interested in scheduling a meeting with the Canaan Inc. management team should contact their firm representative or IR@ca
Bitfury to enhance large-scale digital asset operations with Avalon-powered upgrade kitsOrder marks milestone in joint R&D under strategic business collaboration SINGAPORE, Aug. 28, 2025 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today announced that it has received a new purchase order from Bitfury Group ("Bitfury"), a leading full-service blockchain technology company, for Avalon® ASIC-powered upgrade kits (the "Avalon® ASIC Kit"). This equipment will be deployed at Bitfury's North American facility to upgrade up to 10MW of existing Bitcoin mining capacity, enhancing performance and energy efficiency. Prior to receiving the order,
Total revenues of US$100.2 million exceeded guidance, up 39.5% YoYBitcoin mining revenues reached an all-time high of US$28.1 million, up 201.6% YoYBitcoin treasury[1] climbed to a milestone of 1,511 as of July-end 2025 SINGAPORE, Aug. 14, 2025 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today announced its unaudited financial results for the three months ended June 30, 2025, reporting robust revenue growth, record-high mining output, and a milestone expansion of its bitcoin treasury. Second Quarter 2025 Operating and Financial Highlights The Company posted record unaudited results for the three months ended June 30, 2025, its stronge
SINGAPORE, Aug. 7, 2025 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today announced that it plans to report its financial results for the second quarter ended June 30, 2025, before the U.S. market opens on August 14, 2025. The Company's management team will hold a conference call at 8:00 A.M. on August 14, 2025, U.S. Eastern Time (8:00 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. Second Quarter 2025 Earnings Conference Call Registration Link: https://register-conf.media-server.com/register/BIade229735f2e4178a1a9351a4cfdbfa9 All partici
SINGAPORE, Aug. 7, 2025 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today released its unaudited bitcoin mining update for the month ending July 31, 2025. Management Commentary "We're pleased to report quarter-over-quarter improvement in our bitcoin mining performance, with monthly production resulting in 89 bitcoins, driven by a stronger bitcoin price and lower average power costs," said Nangeng Zhang, chairman and chief executive officer of Canaan. "In line with our recently announced Cryptocurrency Holding Policy, we retain bitcoins acquired through our daily operations as a long-term reserve asset. This policy allows us to accumul
SINGAPORE, July 31, 2025 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today announced that its U.S. subsidiary has received a purchase order from CleanSpark Inc. (NASDAQ:CLSK) ("CleanSpark") to supply additional Avalon A1566I immersion-cooling miners. Each unit delivers a hashrate ranging from 249 to 267 terahashes per second (TH/s), without overclocking. "Following CleanSpark's initial order in November, we are pleased to continue supporting this cutting-edge company as it scales its state-of-the-art immersion mining fleet in Norcross, Georgia," said Nangeng Zhang, chairman and CEO of Canaan. "CleanSpark's commitment to enhancing flee
SINGAPORE, July 30, 2025 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today announced that it has adopted a Cryptocurrency Holding Policy (the "Policy"). The Policy establishes a clear and disciplined framework for the acquisition, custody, and disposition of cryptocurrencies, ensuring that such holdings are managed in a manner that supports the Company's liquidity needs, risk tolerance, and long-term strategic objectives. Under the Policy, bitcoin is designated as the Company's primary long-term reserve asset. Unless required for liquidity management or risk mitigation, bitcoin accumulated through ordinary business activities—includi
All ADSs from converted Series A-1 shares sold in open market SINGAPORE, July 29, 2025 /PRNewswire/ -- Canaan Inc. (NASDAQ:CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today announced that the institutional investor (the "Investor") in its previously disclosed Series A-1 Convertible Preferred Shares financing has fully converted all its holdings into American Depositary Shares ("ADSs"), each representing 15 of the Company's Class A ordinary shares, and has completed the sale of these ADSs through open market transactions. On March 10, 2025, the Company announced it had entered into a Securities Purchase Agreement with the Investor, providing for total gross proceeds of u
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Northland Capital initiated coverage of Canaan with a rating of Market Perform and set a new price target of $1.50
The Benchmark Company initiated coverage of Canaan with a rating of Buy and set a new price target of $3.00
Compass Point initiated coverage of Canaan with a rating of Buy and set a new price target of $2.50
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
Live Leadership Updates
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
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Live finance-specific insights
- 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