Canaan Inc. Stock Price, News & Analysis

Canaan (NASDAQ: CAN), a crypto mining innovator, has announced the adoption of a new Cryptocurrency Holding Policy that establishes bitcoin as its primary long-term reserve asset. The company will retain bitcoin accumulated through its mining operations and equipment sales for the long term, unless needed for liquidity or risk management.

The policy allows for temporary holdings of other cryptocurrencies like Ethereum and compliant stablecoins, which will generally be converted to fiat currency. As of June 30, 2025, Canaan's bitcoin reserves stood at 1,484 BTC. The strategy aims to strengthen the company's balance sheet and align with the broader digital asset economy.

Canaan (NASDAQ: CAN), a crypto mining innovator, announced that an institutional investor has fully converted all Series A-1 Convertible Preferred Shares into ADSs and sold them in the open market. The original financing agreement from March 10, 2025, provided US$200 million in potential funding, with the first tranche of US$100 million completed. The second tranche was terminated on April 30, 2025.

The investment supported Canaan's R&D, bitcoin mining operations, and global expansion. The company's deployed hashrate reached 8.15 EH/s in June 2025, a 30% increase from February's 6.28 EH/s. This includes 4.22 EH/s from green mining in Ethiopia and 3.66 EH/s in North America, with an additional 1.00 EH/s being deployed to the U.S.

Canaan (NASDAQ: CAN) has secured a significant purchase agreement with Cipher Mining to supply 6,840 Avalon A15Pro miners to Cipher's Black Pearl facility in Q3 2025. The miners, delivering 221 TH/s hash rate with 16.6 J/TH power efficiency, will be manufactured at Canaan's U.S. and Malaysian facilities.

This marks Canaan's first major domestic manufacturing initiative for U.S.-based bitcoin mining customers, representing Cipher's fourth order with the company. The agreement comes amid bitcoin's price surge and highlights Canaan's strategy to address tariff pressures through regional manufacturing capabilities.

Canaan Inc. (NASDAQ: CAN) released its June 2025 bitcoin mining update, reporting 88 bitcoins mined during the month, a decrease from May due to weather-related disruptions in Texas and drought-related restrictions in Ethiopia. The company achieved a record 1,484 bitcoins in total holdings and maintains 6.57 EH/s of operating hashrate.

The company is expanding its North American presence with 1 EH/s of new computing power being deployed to U.S. facilities, scheduled for completion by July 2025. Additionally, Canaan is executing a $30 million stock repurchase program, and its executives demonstrated confidence by purchasing 817,268 ADSs at an average price of $0.76 per ADS.

Notably, Canaan plans to discontinue operations in Kazakhstan, with 0.59 EH/s already offline and the remaining 0.22 EH/s to be uninstalled in July 2025 due to changing commercial conditions.

Canaan Inc. (NASDAQ: CAN) announced a strategic realignment to focus on its core crypto-related businesses while discontinuing its non-core AI semiconductor business unit. The company will concentrate on bitcoin mining machine sales, self-mining operations, and consumer mining products. The AI semiconductor unit, which generated only $0.9 million in revenue during FY2024 and accounted for 15% of total operating expenses, will be wound down in the coming months. The company has been exploring strategic options for this unit since March 2022, including potential asset sales. CEO Nangeng Zhang emphasized that this move will enable Canaan to concentrate resources on areas of competitive advantage, drive sustainable growth, and strengthen its position in the global crypto ecosystem. The realignment is expected to significantly reduce operating expenses and enhance capital efficiency.

Canaan Inc. (NASDAQ: CAN) reported strong Bitcoin mining performance for May 2025, achieving a record 109 bitcoins mined, representing a 25% month-over-month increase. The company's total bitcoin holdings reached 1,466 BTC, while installed and operational hashrates hit 8.75 EH/s and 7.27 EH/s respectively. Despite a 10% tariff increase on Malaysia-made mining machines, Canaan maintained efficient operations with a competitive power cost of $0.046/kWh. The company operates 9 global mining projects, with significant presence in Ethiopia (4.22 EH/s) and America (3.66 EH/s). Recent corporate actions include executive share purchases of 817,268 ADSs at $0.76/ADS, a new $30 million stock buyback program, and the termination of a second $100 million preferred share financing tranche. The company expanded North American operations by energizing an additional 0.91 EH/s in May.

Canaan Inc. (NASDAQ: CAN), a crypto mining innovator, announced significant insider buying activity from its top executives. Chairman and CEO Nangeng Zhang, along with CFO James Jin Cheng, collectively purchased 817,268 American Depositary Shares (ADSs) at an average price of $0.76 per ADS in the open market. The transactions were conducted in compliance with the company's internal trading policies and applicable regulations. Zhang emphasized that the share purchases reflect their strong confidence in Canaan's future prospects and their belief that the current stock price significantly undervalues the company's potential.

Canaan (NASDAQ: CAN), a crypto mining innovator, has announced a US$30 million share repurchase program of its ADSs and Class A ordinary shares over a six-month period starting May 27, 2025. CEO Nangeng Zhang stated that the company's shares are currently undervalued given their business model and growth potential. The buyback will be executed through various methods including open market transactions, private negotiations, and block trades. The repurchase timing and volume will depend on factors such as price, trading volume, and market conditions. Despite challenges from macro volatility and new U.S. tariffs, Canaan remains committed to technological innovation and preparing for a recovery in the bitcoin mining sector. The program will be funded using the company's existing cash balance.

Canaan (NASDAQ: CAN) reported Q1 2025 financial results with total revenues of US$82.8 million, exceeding guidance and up 135.9% YoY. The company's mining revenue reached US$24.3 million, up 131.9% YoY, with 259 bitcoins mined. Computing power sold increased 62.6% YoY to 5.5 million TH/s. The company achieved a gross profit of US$0.6 million, compared to a loss of US$37.3 million in Q1 2024. However, net loss widened to US$86.4 million from US$39.4 million YoY. The company's installed mining capacity reached 6.6 EH/s by March 2025, with over 3 EH/s in North America. Canaan faces challenges from new U.S. tariff measures but maintains a competitive mining cost of US$0.042/kWh. As of March 31, 2025, Canaan held 1,408 bitcoins and US$96.8 million in cash.