Canaan Inc. Stock Price, News & Analysis

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.

Canaan Inc. (NASDAQ: CAN) has received a notification from Nasdaq on May 13, 2025, regarding non-compliance with minimum bid price requirements. The company's ADSs have traded below $1.00 per share for 30 consecutive business days. Canaan has been granted a 180-day compliance period until November 10, 2025, to regain compliance by maintaining a closing bid price above $1.00 for at least 10 consecutive business days. If unsuccessful, the company may be eligible for an additional 180-day period, subject to meeting certain listing requirements. Failure to comply within the allowed periods could result in delisting from Nasdaq.

Canaan Inc. (NASDAQ: CAN) released its April 2025 bitcoin mining update, highlighting steady operational progress. The company mined 87 bitcoins during the month, increasing its total holdings to 1,424 bitcoins. Canaan's total deployed hashrate reached 8.15 EH/s, with 6.20 EH/s in operation, maintaining a competitive power cost of $0.044/kWh.

North American operations expanded through partnerships with Luna Square and Mawson Hosting, adding 1.5 EH/s to installed computing power. The company maintains strong operations in Ethiopia with a 95% uptime despite minor disruptions. However, Canaan terminated the second tranche of a $100 million preferred share financing agreement due to market conditions. The company also announced progress on its next-generation Avalon A16 mining machine.

Canaan Inc. (NASDAQ: CAN), a crypto mining technology company, has scheduled to release its first quarter 2025 financial results on May 20, 2025, before U.S. market opening. The company will host an earnings conference call at 8:00 A.M. U.S. Eastern Time (8:00 P.M. Singapore Time) on the same day.

Participants must register in advance through the provided link to receive dial-in numbers and a unique access PIN. Investors can submit questions via email to IR@canaan-creative.com up to 24 hours before the call. The conference call will be available for live streaming and replay on Canaan's investor relations website.