Welcome to our dedicated page for Canaan news (Ticker: CAN), a resource for investors and traders seeking the latest updates and insights on Canaan stock.
Canaan Inc. (CAN) drives innovation in ASIC-powered blockchain solutions, shaping the future of Bitcoin mining technology. This dedicated news hub provides investors and industry professionals with essential updates on corporate developments shaping high-performance computing ecosystems.
Access authoritative reporting on product launches, financial disclosures, and strategic partnerships directly impacting digital mining infrastructure. Our curated collection features:
• Quarterly earnings reports
• ASIC chip development milestones
• Mining hardware innovations
• Strategic industry collaborations
Monitor critical announcements affecting Canaan's position in blockchain technology markets. Bookmark this page for real-time access to material disclosures and operational updates from one of cryptocurrency mining's foundational hardware providers.
Canaan Inc. (NASDAQ: CAN), a crypto mining technology company, has announced the filing of its 2024 annual report on Form 20-F with the Securities and Exchange Commission on April 18, 2025. The report, covering the fiscal year ended December 31, 2024, is now accessible on both the SEC's website and Canaan's investor relations platform.
The company has stated that shareholders and ADS holders can request a complimentary hard copy of the annual report by contacting Canaan's Investor Relations Department via email at IR@canaan-creative.com.
Canaan Inc. (NASDAQ: CAN), a leader in crypto mining innovation, has announced its participation in the upcoming Jefferies Power x Coin Virtual Conference. The event is scheduled for April 16, 2025, at 2 pm ET. Interested parties can obtain additional conference information by reaching out to their Jefferies representatives or by contacting Canaan directly via IR@canaan-creative.com.
Canaan Inc. (NASDAQ: CAN) has released its March 2025 bitcoin mining update, reporting significant operational progress. The company mined 90 bitcoins in March, a 9.8% increase from February, and expanded its North American operations by adding 0.32 EH/s of installed computing power.
Key metrics as of March 31, 2025 include:
- Month-end deployed hashrate: 6.60 EH/s
- Operating hashrate: 5.97 EH/s
- Average revenue split: 58.6%
- Average power cost: $0.043/kWh
- Total bitcoin holdings: 1,408
The company announced new partnerships with Mawson and another partner in Pennsylvania and Texas, expected to add 4.7 EH/s of mining power. Additionally, Canaan completed the tape-out process for its next-generation A16 mining machine, which will undergo full system testing before release.
Canaan Inc. has unveiled the Avalon Q, a professional-grade Bitcoin mining machine designed for home use, at Mining Disrupt 2025. The device delivers up to 90 TH/s hash power with adjustable power consumption (800W-1600W) and operates at just 45dB.
Key features include compatibility with standard household electrical systems (110V-240V), user-friendly operation through the Avalon Family APP, and a 360-day warranty. The Avalon Q is available for preorder at USD1599 until the end of April 2025.
The product aims to democratize Bitcoin mining by enabling enthusiasts to operate professional-level mining equipment from their homes without requiring dedicated facilities. The quiet operation, comparable to a library environment, allows placement in home offices, garages, or basements.
Canaan Inc. (NASDAQ: CAN) reported strong Q4 2024 financial results, with total revenues of US$88.8 million, exceeding guidance and up 80.9% YoY. The company achieved record-breaking computing power sold of 9.1 million TH/s, a 65.9% YoY increase.
Q4 mining revenue surged 312.5% YoY to US$15.3 million, with 186 Bitcoins mined. While the company reported a net loss of US$92.9 million, this represented an improvement from US$139.0 million in Q4 2023. Non-GAAP adjusted EBITDA turned positive at US$19.3 million.
For full-year 2024, total revenues increased 27.4% to US$269.3 million, with total computing power sold up 32.6% to 26.0 million TH/s. The company expanded its mining operations in North America through new projects in Pennsylvania and Texas, targeting 10EH/s in North America and 15EH/s globally by mid-2025.
Canaan Inc. (NASDAQ: CAN) has announced a significant expansion of its crypto mining operations in North America through new partnerships. The company has signed a three-year master colocation agreement with Mawson Hosting in Midland, Pennsylvania, and a 24-month equipment hosting agreement for a facility in Edna, Texas.
These partnerships are expected to add approximately 4.7 EH/s of North American hashrate to Canaan's self-mining computing power. The majority of this hashrate is anticipated to be installed by the second quarter of 2025.
The expansion aligns with Canaan's strategic focus on the U.S. market, where regulatory policies support the company's ambitions for both self-mining activities and mining machine sales opportunities.
Canaan Inc. (NASDAQ: CAN), a crypto mining innovator, has scheduled to release its fourth quarter and full year 2024 financial results on March 26, 2025, before U.S. market opening. The company will host a conference call at 8:00 A.M. U.S. Eastern Time (8:00 P.M. Singapore Time) on the same day to discuss the results.
Investors can submit questions to IR@canaan-creative.com up to 24 hours before the call. Management will address selected questions during the Q&A session. A live and archived webcast will be available on the company's investor relations website.
Canaan Inc. (NASDAQ: CAN) has secured a Series A-1 Preferred Shares financing agreement worth up to US$200 million with an institutional investor. The first tranche of US$100 million was completed on March 10, 2025, with the remaining amount expected in the near term.
The proceeds will fund the company's growth initiatives, including R&D, production expansion, digital mining operations in North America, and global sales. In their Q4 2024 update, Canaan reported revenue exceeding guidance with a narrowed gross loss. The company maintains its expansion target of 10 EH/s self-mining capacity in North America by mid-2025.
Management views this financing as a strategic alternative to their existing ATM program, which they've maintained at an average selling price above US$2, believing their stock is currently undervalued. The company plans to share more financial details in their upcoming quarterly earnings call.
Canaan Inc. (NASDAQ: CAN) has released its February 2025 mining updates and Q4 2024 preliminary results. The company's month-end operating hashrate increased from 5.53 EH/s to 5.73 EH/s, while maintaining a 4 cents/kWh power cost. Their bitcoin balance grew to 1,355 BTC, with revenue split improving from 57.3% to 59.0%.
At Stronghold's Panther Creek facility, the company achieved 0.93 EH/s hashrate following a successful upgrade with 6,000 Avalon A14 miners, representing a 26% increase from 0.74 EH/s. In product development, Canaan launched the Avalon Q, a 90 TH/s home mining machine supporting 110V power supply, with deliveries expected in April 2025.
For Q4 2024, Canaan expects preliminary revenue of approximately US$89 million, exceeding previous guidance of US$80 million. The company anticipates a narrowed gross loss between US$10 million and US$6 million.
Canaan Inc. (NASDAQ: CAN) reported its January 2025 bitcoin mining updates, highlighting significant operational progress. The company mined 88 bitcoins in January, up from 62 in December, and increased its month-end deployed global hashrate by 18.2% to 6.43 EH/s. The company improved its revenue split to 57.3% while maintaining a power cost of $0.04/kWh.
Canaan expanded its joint mining agreement with Luna Square from 30MW to 36MW in Texas and energized 1,704 A14 series Avalon miners. The company also signed a purchase agreement with a U.S. customer for Avalon A15XP miners and launched two new consumer products at CES: the Avalon Mini 3 (37.5 TH/s) and Nano 3S (6 TH/s) bitcoin mining heaters.
The company maintains 1,319 bitcoins on its balance sheet and aims to reach 10 EH/s in North America and 15 EH/s globally by mid-2025.
