Canaan Inc. Bitcoin Mining Update Highlights Record Treasury and Hashrate Growth
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Should l Buy CAN?
Source: Newsfilter
- 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.
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Analyst Views on CAN
Wall Street analysts forecast CAN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CAN is 3.13 USD with a low forecast of 2.50 USD and a high forecast of 4.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
4 Buy
0 Hold
0 Sell
Strong Buy
Current: 0.590
Low
2.50
Averages
3.13
High
4.00
Current: 0.590
Low
2.50
Averages
3.13
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 to Announce Q4 Earnings on February 10
- Earnings Announcement: Canaan is set to release its Q4 2023 earnings report on February 10 before market open, with consensus EPS estimate at -$0.01 and revenue expected at $175.68 million, reflecting a robust year-over-year growth of 97.8%.
- Performance Expectations: Over the past year, Canaan has not missed EPS estimates, achieving a 0% miss rate, while in the last three months, EPS estimates have seen two upward revisions and one downward, indicating cautious optimism regarding its profitability.
- Revenue Revision Trends: The revenue estimates for Canaan have experienced five upward revisions with no downward adjustments in the last three months, suggesting increased analyst confidence in its future performance, which could positively impact its stock price ahead of the earnings report.
- Bitcoin Production Strength: Canaan reported strong bitcoin production in December, alongside record crypto holdings, which not only enhances its competitive position in the market but may also provide substantial support for the upcoming earnings report.
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 to Announce Q4 Earnings on February 10
- Earnings Announcement: Canaan is set to release its Q4 2023 earnings report on February 10 before market open, with consensus EPS estimate at -$0.01 and revenue expected at $175.68 million, reflecting a robust year-over-year growth of 97.8%.
- Performance Expectations: Over the past year, Canaan has not missed EPS estimates, achieving a 0% miss rate, while in the last three months, EPS estimates have seen two upward revisions and one downward, indicating cautious optimism regarding its profitability.
- Revenue Revision Trends: The revenue estimates for Canaan have experienced five upward revisions with no downward adjustments in the last three months, suggesting increased analyst confidence in its future performance, which could positively impact its stock price ahead of the earnings report.
- Bitcoin Production Strength: Canaan reported strong bitcoin production in December, alongside record crypto holdings, which not only enhances its competitive position in the market but may also provide substantial support for the upcoming earnings report.
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
