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Upturn AI SWOT - About
Canaan Inc (CAN)
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Upturn Advisory Summary
08/28/2025: CAN (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
6 Analysts rated it
Limited analyst coverage, niche firm, research info may be scarce.
1 Year Target Price $2.43
1 Year Target Price $2.43
| 5 | Strong Buy |
| 1 | Buy |
| 0 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -38.75% | Avg. Invested days 22 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 08/28/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 372.38M USD | Price to earnings Ratio - | 1Y Target Price 2.43 |
Price to earnings Ratio - | 1Y Target Price 2.43 | ||
Volume (30-day avg) 6 | Beta 3.25 | 52 Weeks Range 0.54 - 3.27 | Updated Date 08/28/2025 |
52 Weeks Range 0.54 - 3.27 | Updated Date 08/28/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -1.03 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-08-14 | When - | Estimate -0.04 | Actual -1.02 |
Profitability
Profit Margin -77.01% | Operating Margin (TTM) -27.88% |
Management Effectiveness
Return on Assets (TTM) -19.6% | Return on Equity (TTM) -75.8% |
Valuation
Trailing PE - | Forward PE 2.15 | Enterprise Value 349522691 | Price to Sales(TTM) 1.08 |
Enterprise Value 349522691 | Price to Sales(TTM) 1.08 | ||
Enterprise Value to Revenue 1.1 | Enterprise Value to EBITDA 0.6 | Shares Outstanding 469003008 | Shares Floating 6769946385 |
Shares Outstanding 469003008 | Shares Floating 6769946385 | ||
Percent Insiders 7.43 | Percent Institutions 18.09 |
Upturn AI SWOT
Canaan Inc
Company Overview
History and Background
Canaan Inc. (CAN) was founded in 2013 in Beijing, China. It is a fabless IC design company involved in designing Bitcoin mining hardware products by selling integrated circuits (ICs) and system products containing ICs. It initially focused on developing ASIC chips for Bitcoin mining, becoming one of the first companies to mass-produce 28nm and 16nm chips. The company has expanded its product line to include AI chips and related products.
Core Business Areas
- Bitcoin Mining Hardware: Design, manufacture, and sale of Bitcoin mining machines using proprietary ASIC chips.
- AI Chips and Solutions: Development and sale of AI chips and related solutions for various applications, including image recognition and data processing. However, this business is small relative to crypto mining equipment.
Leadership and Structure
Nangeng Zhang is the Chairman and CEO. The company operates with a functional organizational structure, with departments focused on research and development, sales and marketing, and manufacturing operations.
Top Products and Market Share
Key Offerings
- Avalon Miners: High-performance Bitcoin mining machines designed for efficiency and hash rate. Canaan's revenue is directly correlated with the price of Bitcoin and the profitability of mining it. Competitors include Bitmain, MicroBT, and StrongU. Market share fluctuates with the price of bitcoin, but in 2023 they had approximately 10% of market share.
- Kneron AI Chips: AI chips for edge computing applications, though revenue and market share is limited compared to mining business. Competitors include Nvidia, Qualcomm, and Xilinx.
Market Dynamics
Industry Overview
The Bitcoin mining hardware industry is highly competitive and volatile, influenced by cryptocurrency prices, mining difficulty, and technological advancements. The AI chip market is rapidly growing, with increasing demand for edge computing solutions.
Positioning
Canaan Inc. is positioned as a key player in the Bitcoin mining hardware market, known for its ASIC chip design capabilities. Its AI chip business is still in early stages, aiming to capitalize on the growing demand for AI solutions.
Total Addressable Market (TAM)
The Bitcoin mining hardware TAM is dependent on the price of Bitcoin, but reaches into the billions of USD when Bitcoin price is high. The AI chip market is valued in the tens of billions of USD. Canaan has small positioning in the AI TAM, but is a significant player in the mining TAM.
Upturn SWOT Analysis
Strengths
- Strong ASIC chip design expertise
- Early mover advantage in Bitcoin mining hardware
- Established brand recognition in the mining community
- Ability to innovate and develop new mining technologies
Weaknesses
- High dependence on Bitcoin prices
- Limited diversification beyond Bitcoin mining
- Geographic concentration in China
- Relatively small scale compared to larger competitors
Opportunities
- Expansion into new cryptocurrency mining algorithms
- Growth of the AI chip market
- Partnerships with cloud service providers
- Geographic diversification
Threats
- Volatility of cryptocurrency markets
- Increasing competition from other mining hardware manufacturers
- Regulatory uncertainty surrounding cryptocurrency mining
- Technological obsolescence of mining hardware
Competitors and Market Share
Key Competitors
- BITM
- EBIT
- HIVE
Competitive Landscape
Canaan faces intense competition from larger and more established mining hardware manufacturers. While it has strong ASIC design capabilities, it needs to innovate to maintain its market position.
Growth Trajectory and Initiatives
Historical Growth: Historical growth has been cyclical, tracking cryptocurrency market trends.
Future Projections: Future growth projections are uncertain, dependent on Bitcoin's future price as well as if Canaan is able to meaningfully compete in the AI chip market.
Recent Initiatives: Recent initiatives include developing more efficient mining hardware and expanding the AI chip product line. They have also attempted to diversify their geographic footprint to reduce reliance on China.
Summary
Canaan Inc. is a volatile company due to its dependence on the price of Bitcoin. While it has strong ASIC design capabilities, it needs to diversify beyond Bitcoin mining to reduce risk. The AI chip business offers potential growth, but faces stiff competition. Success hinges on navigating the volatile cryptocurrency market and capitalizing on AI opportunities.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Financial Reports
- Industry Analysis Reports
- Market Research Data
Disclaimers:
This analysis is based on available information and is subject to change. Investment decisions should be made after consulting with a qualified financial advisor. Data can vary from source to source. Market share is estimated.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Canaan Inc
Exchange NASDAQ | Headquaters - | ||
IPO Launch date 2019-11-20 | Chairman & CEO Mr. Nangeng Zhang | ||
Sector Technology | Industry Computer Hardware | Full time employees 463 | |
Full time employees 463 | |||
Canaan Inc. engages in the research and development, design, and sale of integrated circuits (IC), and lease of final mining equipment by integrating IC products for bitcoin mining and related components in the People's Republic of China. It is also involved in the assembly and distribution of mining equipment and spare parts; and distribution of edge computing chip products, as well as mining business. The company has operations in the United States, Mainland China, the United Arab Emirates, Ethiopia, Hong Kong Special Administrative Region, Malaysia, Kazakhstan, Canada, Netherlands, Singapore, Georgia, Paraguay, Thailand, Indonesia, Australia, Cyprus, and internationally. Canaan Inc. was founded in 2013 and is headquartered in Singapore.
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