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Canaan ( (CAN) ) has issued an announcement.
Canaan Inc. announced its December 2024 Bitcoin production updates and projected fiscal year 2025 revenues between $900 million and $1.1 billion. The company has expanded its market presence by strengthening partnerships and launching new products, including the upgraded Avalon A15 series and consumer-focused Avalon Home series. With significant operations in North America, Canaan aims to achieve a global mining hash rate of 15 EH/s by mid-2025. In light of increasing demand, the company secured numerous strategic orders and expanded self-mining activities in Texas. These efforts position Canaan as a leading player in the global Bitcoin mining industry, enhancing its market footprint and operational capacity.
More about Canaan
Canaan Inc., established in 2013, is a technology company specializing in ASIC high-performance computing chip design, development, production, and software services. Known for its pioneering role in ASIC technology for bitcoin mining, Canaan’s founding team introduced the first batch of ASIC mining machines under the Avalon brand. It went public in 2019 on the Nasdaq Global Market.
YTD Price Performance: -9.46%
Average Trading Volume: 18,666,713
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $537.7M
Find detailed analytics on CAN stock on TipRanks’ Stock Analysis page.
