An announcement from Canaan ( (CAN) ) is now available.
Canaan Inc. announced its February 2025 bitcoin production and mining operation updates, alongside preliminary unaudited financial results for Q4 2024. The company reported a sequential increase in its month-end operating hashrate to 5.73 EH/s and an improved average revenue split of 59.0%. Canaan introduced the Avalon Q, a new home mining machine, expanding its reach to individual users. Preliminary financial results for Q4 2024 show expected revenues of approximately $89 million, exceeding previous guidance, with a narrowed gross loss due to improved market demand and cost optimizations.
More about Canaan
Canaan Inc., established in 2013, is a technology company specializing in ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. Known for its pioneering role in ASIC technology for bitcoin mining, Canaan completed its initial public offering on the Nasdaq Global Market in 2019.
YTD Price Performance: -40.99%
Average Trading Volume: 17,904,882
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $377.7M
For an in-depth examination of CAN stock, go to TipRanks’ Stock Analysis page.