Canaan Inc. Stock Price, News & Analysis

Canaan (NASDAQ: CAN) announced a strategic direct registered offering of 63,660,477 ADSs at $1.131 per ADS, raising approximately US$72 million from BH Digital (Brevan Howard), Galaxy Digital, and Weiss Asset Management on Nov 4, 2025.

The capital is intended to fund high-return utility-grade computing and energy infrastructure projects, strengthen the balance sheet, and reduce reliance on ATM or other dilutive financing. Closings are anticipated on Nov 6, 2025, and no warrants or derivative instruments were issued.

Canaan (Nasdaq: CAN) announced a registered direct offering of ADSs to raise approximately US$72,000,000. The company agreed to issue 63,660,477 ADSs at US$1.131 per ADS, with each ADS representing 15 Class A ordinary shares. Closings are anticipated on November 6, 2025, subject to customary conditions. Net proceeds are intended for data center acquisitions and development in North America, expansion of Bitcoin mining machine production capacity, R&D, and general corporate purposes. The offering will be completed under an effective Form F-3 shelf (File No. 333-285125) and a prospectus supplement will be filed with the SEC.

Canaan (NASDAQ: CAN) updated its at-the-market (ATM) equity offering program on Oct 24, 2025 and sold approximately 4.84 million ADS at an average price of about US$1.61 per ADS, generating roughly US$7.8 million in gross proceeds.

The company has paused further ATM sales for the remainder of 2025 and said any 2026 resumption will depend on cash needs, market conditions, and other factors. As of Sep 30, 2025, Canaan held a cryptocurrency treasury of 1,582 BTC and 2,830 ETH. On Oct 28, 2025 Canaan introduced the new Avalon A16 bitcoin miner, described as having improved power efficiency and manufacturing quality.

Canaan (NASDAQ: CAN) announced a 4.5-megawatt sales contract to deploy Avalon A1566HA-488T hydro-cooled mining servers with a major regional utility in Japan for real-time grid balancing and energy-efficiency optimization. The servers, powered by Canaan's self-developed smart control chip, will dynamically adjust frequency, voltage, and hashrate via feedback algorithms to help stabilize regional power-grid load through controlled overclocking and underclocking, with operations beginning by the end of 2025. The project highlights Canaan's hydro-cooled, low-carbon architecture and its positioning across AI infrastructure, renewable energy, and blockchain computing.

The announcement references proposed Japanese regulatory reforms including potential FIEA reclassification of crypto assets, a proposed flat 20% crypto gains tax, and expanded bank participation in digital-asset services.

Canaan (NASDAQ: CAN) launched the next‑generation Avalon A16 series bitcoin miner on Oct 28, 2025, unveiling the air‑cooled Avalon A16XP that delivers 300 TH/s per unit at 12.8 J/TH energy efficiency. The A16XP is presented as a high‑performance, durable mining machine aimed at maintaining client operational advantage amid rising network difficulty.

The A16 series is available for pre‑order and will ship from production centers in North America, East Asia, and Southeast Asia. Canaan emphasised its vertical integration across ASIC design, hardware sales, self‑mining, and bitcoin treasury management as a strategy to capture value across cycles and improve efficiency and resilience.

Canaan (NASDAQ: CAN) announced it has regained compliance with Nasdaq's minimum bid price rule after Nasdaq determined the company's ADS closing bid was at least $1.00 for 10 consecutive business days from October 1 to October 15, 2025. Nasdaq notified the company on October 15, 2025 and considers the matter closed.

The release highlights recent commercial wins including a U.S. order for more than 50,000 Avalon A15 Pro miners, a Gas-to-Computing power initiative in Alberta, and a 20MW deployment partnership with Soluna.

Canaan Inc. (NASDAQ: CAN) launched a pilot gas-to-computing project in Calgary, Alberta on Oct 13, 2025, via a joint mining agreement with Aurora AZ Energy Ltd.

The pilot installs over $2 million of Avalon A15 Pro miners (≈700 units) and containerized data modules at wellheads to deliver ~2.5 MW of computing capacity using stranded or flared natural gas. The agreement guarantees 90% uptime (subject to limited exemptions) and enables selling excess power back to the grid during curtailment. The project targets an annual reduction of 12,000–14,000 metric tons CO₂-equivalent by converting flared gas into usable electricity.

Canaan (NASDAQ: CAN) released its unaudited September 2025 bitcoin mining update reporting a historic deployed hashrate of 9.30 EH/s and operating hashrate of 7.84 EH/s. The company mined 92 BTC in September and ended the month with a record cryptocurrency treasury of 1,582 BTC and 2,830 ETH. Average all-in power cost was $0.042/kWh and North America miner efficiency improved to 19.7 J/TH. Canaan secured a landmark U.S. purchase order for over 50,000 Avalon A15 Pro miners and announced a 20 MW renewable partnership with Soluna for Q1 2026 deployment.

Canaan (NASDAQ: CAN) has secured its largest order in three years from a U.S.-based bitcoin miner for over 50,000 Avalon A15 Pro mining machines. The landmark purchase order, scheduled for delivery in Q4 2025, demonstrates the resurgence of the U.S. bitcoin mining market and validates Canaan's technological leadership.

The Avalon A15 Pro, Canaan's latest-generation bitcoin mining machine, features industry-leading efficiency and reliability, particularly important for institutional miners focusing on power costs and mining economics. This significant order reinforces Canaan's position as a trusted partner for institutional-scale mining operations globally.