Reasons Behind Canaan's 10% Stock Drop on Thursday
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 13 2025
0mins
Should l Buy CAN?
Source: Fool
Canaan's Stock Performance: Canaan, a crypto miner and equipment supplier, saw its stock drop 10% as Bitcoin fell below $100,000, marking a significant decline for the company.
Bitcoin's Market Trends: Bitcoin's price dip is attributed to bearish investor sentiment and concerns about the economy, particularly following the federal government shutdown, which may hinder potential Federal Reserve rate cuts.
Impact of Rate Cuts on Cryptocurrencies: Rate cuts are generally favorable for cryptocurrencies, as they make riskier assets more attractive, but current economic conditions are raising doubts about this trend.
Canaan's Market Position: Canaan operates at the intersection of AI, data centers, and cryptocurrency, leading to increased investor concerns about the sustainability of its business model amidst market fluctuations.
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Analyst Views on CAN
Wall Street analysts forecast CAN stock price to rise
5 Analyst Rating
4 Buy
1 Hold
0 Sell
Strong Buy
Current: 0.500
Low
1.75
Averages
2.85
High
4.00
Current: 0.500
Low
1.75
Averages
2.85
High
4.00
About CAN
Canaan Inc. provides high performance computing solutions through its proprietary application-specific integrated circuits (ASICs). The Company is a fabless IC designer engaged in the front-end and back-end of IC design. The Company primarily offers its technology and expertise in ASIC applications to Bitcoin mining machines and is also a producer of Bitcoin mining machines in the global market. The Company, through its subsidiaries, independently designs and develops its products in-house, including the design of proprietary ASIC chips for its Bitcoin mining machines. It has in-house production capabilities to assemble both Bitcoin mining machines and artificial intelligence (AI) chips. It assembles its Bitcoin mining machines primarily at its assembly plant located in the People’s Republic of China (PRC) by integrating the ICs designed by the Company and related components it procures. It also intends to engage in Bitcoin mining through self-owned facilities.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Canaan Inc. Reports Record Q4 2025 Revenue Amid Market Challenges
- Record Quarterly Revenue: Canaan Inc. achieved total revenue of $196 million in Q4 2025, representing a 30.4% increase quarter-over-quarter and a 121.1% increase year-over-year, highlighting strong performance in mining machine sales, particularly with over 75% of sales coming from North American customers.
- Breakthrough in Mining Sales: The company sold over 50,000 A15 Pro mining machines this quarter, achieving a computing power of 14.6 EH/s, which is a 45.7% increase quarter-over-quarter and a 60.9% increase year-over-year, significantly enhancing market share and laying the groundwork for future growth.
- Self-Mining and Diversification: Canaan mined 300 Bitcoins in the quarter, ending with 1,750 Bitcoins and 3,951 Ethereum, demonstrating strategic positioning in crypto asset management while also launching new projects in energy infrastructure.
- Cautious Future Outlook: Management expects Q1 2026 revenue to range between $60 million and $70 million, reflecting a cautious stance due to market volatility and macroeconomic uncertainties, emphasizing the importance of maintaining strong cash flow and inventory discipline.
See More
Canaan Achieves Record Bitcoin Mining Performance in January
- Bitcoin Mining Performance: Canaan mined 83 BTC in January, ending the month with a record cryptocurrency reserve of 1,778 BTC and 3,951 ETH, showcasing the company's strong performance and growth potential in the cryptocurrency market.
- Hashrate Increase: The deployed hashrate reached 10.07 EH/s by month-end, while the operating hashrate stood at 6.63 EH/s, indicating a continuous improvement in mining efficiency that helps reduce unit costs and enhance profitability.
- Miner Efficiency Improvement: The global average miner efficiency slightly improved to 24.2 J/TH, reflecting Canaan's stable operational performance, which further strengthens its competitive position in the market.
- Power Cost Management: The average all-in power cost for the month was US$0.043 per kWh, supported by effective power curtailment strategies with joint mining partners, ensuring the company's advantage in cost control.
See More
Canaan Reports Q4 Earnings Exceeding Expectations
- Strong Performance: Canaan's Q4 GAAP EPS of $0.13 exceeded expectations by $0.14, indicating a significant improvement in profitability and reflecting the company's robust performance in a competitive market.
- Revenue Surge: The company reported Q4 revenue of $196.3 million, a 121.1% year-over-year increase, surpassing market expectations by $20.62 million, demonstrating strong demand and an expanding market share in the Bitcoin mining sector.
- Bitcoin Revenue: Bitcoin mining revenues reached $30.4 million, up 98.5% year-over-year, which not only enhanced the company's overall revenue structure but also strengthened its competitive position in the cryptocurrency market.
- Future Outlook: Canaan expects Q1 2026 total revenues to range between $60 million and $70 million, below the consensus of $155.64 million, reflecting challenges in near-term market conditions and evolving customer dynamics, indicating the company's cautious approach to the market environment.
See More
Canaan Reports 121.1% Revenue Growth in 2025 Financial Results
- Significant Revenue Growth: Canaan's total revenue for 2025 reached $529.7 million, a 96.7% year-over-year increase, demonstrating the company's strong execution in hardware sales and mining operations, which is expected to further solidify its market position.
- Surge in Bitcoin Mining Revenue: The company reported $113.2 million in Bitcoin mining revenue for 2025, reflecting a 157.2% year-over-year increase, showcasing its success in mining capacity and the rebound in Bitcoin prices, thereby enhancing profitability.
- Record Computing Power: Canaan achieved over 36.5 EH/s in total computing power sold in 2025, a 40.7% year-over-year growth, driven by deepening global client partnerships that improved production efficiency and market competitiveness.
- Strong Financial Health: As of December 31, 2025, Canaan maintained a cash balance of $81 million, indicating robust liquidity for navigating market volatility and seizing future growth opportunities.
See More
Canaan Inc. Achieves Record High Bitcoin Treasury
- Record Bitcoin Treasury: Canaan Inc. achieved a record high cryptocurrency treasury of 1,778 BTC and 3,951 ETH, demonstrating the company's ability to grow its assets through effective operational management despite challenging conditions, thereby enhancing its market competitiveness.
- Global Hashrate Increase: The company's global hashrate exceeded 10 EH/s in January 2026, with an operating hashrate of 6.63 EH/s at month-end, indicating its agility in responding to high demand periods, which helps improve long-term economic benefits.
- Energy Efficiency Initiatives: Canaan launched a 3.0 MW heat recovery project in Manitoba, Canada, aiming for 95% uptime, showcasing the company's innovative capabilities in energy reuse and further advancing its sustainability strategy.
- Share Buyback Program Update: The board approved a share repurchase program of up to $30 million, and as of February 10, 2026, approximately 2.8 million ADSs have been repurchased, reflecting management's confidence in the company's financial position and long-term growth prospects.
See More
Canaan Inc. Bitcoin Mining Update Highlights Record Treasury and Hashrate Growth
- Record Bitcoin Treasury: Canaan Inc. achieved a record high cryptocurrency treasury of 1,778 BTC and 3,951 ETH, demonstrating the company's ability to maintain strong asset growth even in challenging conditions, thereby boosting investor confidence.
- Hashrate Deployment Milestone: The company's global hashrate exceeded 10 EH/s, with an operating hashrate of 6.63 EH/s at month-end, indicating its agility in responding to high demand periods, which enhances its competitive position in the market.
- Improved Energy Efficiency: The global average miner efficiency improved slightly to 24.2 J/TH in January, reflecting the company's ongoing efforts in operational consistency, which is expected to further reduce operational costs.
- Share Buyback Program Update: As of February 2026, the company has repurchased approximately 2.8 million ADSs for a total of $2 million, reflecting management's confidence in the company's financial position and long-term growth, which is likely to have a positive impact on stock price.
See More
Canaan Inc. Reports Record Q4 2025 Revenue Amid Market Challenges
- Record Quarterly Revenue: Canaan Inc. achieved total revenue of $196 million in Q4 2025, representing a 30.4% increase quarter-over-quarter and a 121.1% increase year-over-year, highlighting strong performance in mining machine sales, particularly with over 75% of sales coming from North American customers.
- Breakthrough in Mining Sales: The company sold over 50,000 A15 Pro mining machines this quarter, achieving a computing power of 14.6 EH/s, which is a 45.7% increase quarter-over-quarter and a 60.9% increase year-over-year, significantly enhancing market share and laying the groundwork for future growth.
- Self-Mining and Diversification: Canaan mined 300 Bitcoins in the quarter, ending with 1,750 Bitcoins and 3,951 Ethereum, demonstrating strategic positioning in crypto asset management while also launching new projects in energy infrastructure.
- Cautious Future Outlook: Management expects Q1 2026 revenue to range between $60 million and $70 million, reflecting a cautious stance due to market volatility and macroeconomic uncertainties, emphasizing the importance of maintaining strong cash flow and inventory discipline.
See More
Canaan Achieves Record Bitcoin Mining Performance in January
- Bitcoin Mining Performance: Canaan mined 83 BTC in January, ending the month with a record cryptocurrency reserve of 1,778 BTC and 3,951 ETH, showcasing the company's strong performance and growth potential in the cryptocurrency market.
- Hashrate Increase: The deployed hashrate reached 10.07 EH/s by month-end, while the operating hashrate stood at 6.63 EH/s, indicating a continuous improvement in mining efficiency that helps reduce unit costs and enhance profitability.
- Miner Efficiency Improvement: The global average miner efficiency slightly improved to 24.2 J/TH, reflecting Canaan's stable operational performance, which further strengthens its competitive position in the market.
- Power Cost Management: The average all-in power cost for the month was US$0.043 per kWh, supported by effective power curtailment strategies with joint mining partners, ensuring the company's advantage in cost control.
See More
Canaan Reports Q4 Earnings Exceeding Expectations
- Strong Performance: Canaan's Q4 GAAP EPS of $0.13 exceeded expectations by $0.14, indicating a significant improvement in profitability and reflecting the company's robust performance in a competitive market.
- Revenue Surge: The company reported Q4 revenue of $196.3 million, a 121.1% year-over-year increase, surpassing market expectations by $20.62 million, demonstrating strong demand and an expanding market share in the Bitcoin mining sector.
- Bitcoin Revenue: Bitcoin mining revenues reached $30.4 million, up 98.5% year-over-year, which not only enhanced the company's overall revenue structure but also strengthened its competitive position in the cryptocurrency market.
- Future Outlook: Canaan expects Q1 2026 total revenues to range between $60 million and $70 million, below the consensus of $155.64 million, reflecting challenges in near-term market conditions and evolving customer dynamics, indicating the company's cautious approach to the market environment.
See More
Canaan Reports 121.1% Revenue Growth in 2025 Financial Results
- Significant Revenue Growth: Canaan's total revenue for 2025 reached $529.7 million, a 96.7% year-over-year increase, demonstrating the company's strong execution in hardware sales and mining operations, which is expected to further solidify its market position.
- Surge in Bitcoin Mining Revenue: The company reported $113.2 million in Bitcoin mining revenue for 2025, reflecting a 157.2% year-over-year increase, showcasing its success in mining capacity and the rebound in Bitcoin prices, thereby enhancing profitability.
- Record Computing Power: Canaan achieved over 36.5 EH/s in total computing power sold in 2025, a 40.7% year-over-year growth, driven by deepening global client partnerships that improved production efficiency and market competitiveness.
- Strong Financial Health: As of December 31, 2025, Canaan maintained a cash balance of $81 million, indicating robust liquidity for navigating market volatility and seizing future growth opportunities.
See More
Canaan Inc. Achieves Record High Bitcoin Treasury
- Record Bitcoin Treasury: Canaan Inc. achieved a record high cryptocurrency treasury of 1,778 BTC and 3,951 ETH, demonstrating the company's ability to grow its assets through effective operational management despite challenging conditions, thereby enhancing its market competitiveness.
- Global Hashrate Increase: The company's global hashrate exceeded 10 EH/s in January 2026, with an operating hashrate of 6.63 EH/s at month-end, indicating its agility in responding to high demand periods, which helps improve long-term economic benefits.
- Energy Efficiency Initiatives: Canaan launched a 3.0 MW heat recovery project in Manitoba, Canada, aiming for 95% uptime, showcasing the company's innovative capabilities in energy reuse and further advancing its sustainability strategy.
- Share Buyback Program Update: The board approved a share repurchase program of up to $30 million, and as of February 10, 2026, approximately 2.8 million ADSs have been repurchased, reflecting management's confidence in the company's financial position and long-term growth prospects.
See More
Canaan Inc. Bitcoin Mining Update Highlights Record Treasury and Hashrate Growth
- Record Bitcoin Treasury: Canaan Inc. achieved a record high cryptocurrency treasury of 1,778 BTC and 3,951 ETH, demonstrating the company's ability to maintain strong asset growth even in challenging conditions, thereby boosting investor confidence.
- Hashrate Deployment Milestone: The company's global hashrate exceeded 10 EH/s, with an operating hashrate of 6.63 EH/s at month-end, indicating its agility in responding to high demand periods, which enhances its competitive position in the market.
- Improved Energy Efficiency: The global average miner efficiency improved slightly to 24.2 J/TH in January, reflecting the company's ongoing efforts in operational consistency, which is expected to further reduce operational costs.
- Share Buyback Program Update: As of February 2026, the company has repurchased approximately 2.8 million ADSs for a total of $2 million, reflecting management's confidence in the company's financial position and long-term growth, which is likely to have a positive impact on stock price.
See More
