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Canaan Inc (CAN)
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Upturn Advisory Summary
12/30/2025: 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 $2.91
1 Year Target Price $2.91
| 5 | Strong Buy |
| 1 | Buy |
| 0 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -3.65% | Avg. Invested days 24 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  2.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 12/30/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 482.99M USD | Price to earnings Ratio - | 1Y Target Price 2.91 |
Price to earnings Ratio - | 1Y Target Price 2.91 | ||
Volume (30-day avg) 6 | Beta 2.88 | 52 Weeks Range 0.53 - 2.47 | Updated Date 12/30/2025 |
52 Weeks Range 0.53 - 2.47 | Updated Date 12/30/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) -0.88 |
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 - | When - | Estimate - | Actual - |
Profitability
Profit Margin -51.66% | Operating Margin (TTM) -15.1% |
Management Effectiveness
Return on Assets (TTM) -15.02% | Return on Equity (TTM) -62.71% |
Valuation
Trailing PE - | Forward PE 2.15 | Enterprise Value 447051909 | Price to Sales(TTM) 1.14 |
Enterprise Value 447051909 | Price to Sales(TTM) 1.14 | ||
Enterprise Value to Revenue 1.29 | Enterprise Value to EBITDA 0.6 | Shares Outstanding 657578091 | Shares Floating 7935922835 |
Shares Outstanding 657578091 | Shares Floating 7935922835 | ||
Percent Insiders - | Percent Institutions 15.61 |
Upturn AI SWOT
Canaan Inc
Company Overview
History and Background
Canaan Inc. was founded in 2013 by Zhang Niannian and is a leading provider of high-performance computing solutions. It gained significant recognition for its advancements in ASIC (Application-Specific Integrated Circuit) chip design and manufacturing, particularly for blockchain applications. The company went public on the Nasdaq Stock Market in December 2019 under the ticker symbol CAN. A significant milestone was its early dominance in the Bitcoin mining hardware market.
Core Business Areas
- Blockchain Computing Solutions: This segment focuses on the design, manufacturing, and sale of Bitcoin mining machines and related core components. Canaan is known for its advanced ASIC chips that power these machines, offering high efficiency and processing power.
- AI Computing Solutions: Canaan is expanding into the artificial intelligence sector by developing and offering AI chips and related computing solutions. This segment aims to leverage their expertise in high-performance computing for AI applications.
Leadership and Structure
The leadership team of Canaan Inc. includes its Chairman and CEO, Mr. Zhang Niannian, and its Chief Financial Officer, Mr. Tan Jianhua. The company operates with a hierarchical structure, typical for technology firms, with departments dedicated to research and development, manufacturing, sales, and marketing.
Top Products and Market Share
Key Offerings
- Competitors: Bitmain (Antminer),MicroBT (Whatsminer),Ebang
- Description: The AvalonMiner series represents Canaan's flagship Bitcoin mining hardware. These machines are powered by advanced ASIC chips designed by Canaan, offering competitive hash rates and energy efficiency. The product line has seen continuous iteration with newer models offering superior performance. Market share data for specific product lines is not publicly disclosed, but Canaan was historically a dominant player in the Bitcoin ASIC mining hardware market. Competitors include Bitmain (Antminer series), MicroBT (Whatsminer series), and Ebang (Antminer series, though Ebang's market position has fluctuated).
- Product Name: AvalonMiner Series
- Competitors: NVIDIA,Intel,AMD,Qualcomm,Various AI chip startups
- Description: Canaan is developing and marketing AI chips, such as the K510 series, and integrated computing solutions for AI applications like intelligent vision and natural language processing. This is a newer area for the company, and market share is nascent. Competitors in the AI chip market are diverse and include NVIDIA, Intel, AMD, and various specialized AI chip startups.
- Product Name: Kanaan AI Chips and Computing Solutions
Market Dynamics
Industry Overview
Canaan operates in two primary industries: cryptocurrency mining hardware and AI computing. The cryptocurrency mining hardware market is highly cyclical, driven by Bitcoin price volatility, regulatory changes, and technological advancements in chip efficiency. The AI computing market is characterized by rapid innovation, increasing demand for specialized hardware, and intense competition.
Positioning
Canaan has established itself as a significant player in the Bitcoin mining hardware sector, leveraging its proprietary ASIC technology. Its competitive advantage lies in its integrated supply chain and R&D capabilities. In the AI computing sector, Canaan is an emerging player aiming to leverage its semiconductor expertise.
Total Addressable Market (TAM)
The TAM for cryptocurrency mining hardware is substantial but fluctuates with market sentiment and regulatory environments. The TAM for AI chips and computing solutions is rapidly growing, estimated to be in the hundreds of billions of dollars. Canaan is positioning itself to capture a portion of both, though its current market share in AI is relatively small.
Upturn SWOT Analysis
Strengths
- Proprietary ASIC chip design and manufacturing capabilities
- Established brand recognition in the Bitcoin mining hardware market
- Vertical integration in its core business
- Experience in high-performance computing
Weaknesses
- High dependence on the volatile cryptocurrency market
- Limited track record and market share in the AI sector
- Intense competition in both core markets
- Potential challenges in global supply chain disruptions
Opportunities
- Growth in the global AI market
- Diversification into new applications for their ASIC technology
- Potential for partnerships and collaborations in the AI space
- Advancements in blockchain technology beyond Bitcoin
Threats
- Increasing regulatory scrutiny of cryptocurrency and mining operations
- Rapid technological obsolescence of mining hardware
- Dominance of larger, more established players in the AI chip market
- Global economic downturns impacting hardware demand
Competitors and Market Share
Key Competitors
- Bitmain (with its Antminer series)
- MicroBT (with its Whatsminer series)
Competitive Landscape
Canaan's competitive advantages in the Bitcoin mining hardware space include its established brand and proprietary ASIC technology. However, it faces intense competition from Bitmain, which is generally considered the market leader. In the AI chip market, Canaan faces competition from global giants and numerous specialized startups, making it a challenging landscape to penetrate.
Growth Trajectory and Initiatives
Historical Growth: Canaan experienced significant growth in its early years, driven by the booming Bitcoin mining industry. Its growth has been characterized by periods of rapid expansion followed by contractions, mirroring the cryptocurrency market cycles. The push into AI represents an effort to diversify and stabilize growth.
Future Projections: Future growth projections for Canaan are contingent on several factors, including the sustained adoption of Bitcoin, advancements in their AI chip technology, and the ability to gain market share in the competitive AI sector. Analyst estimates would likely vary significantly based on these external factors.
Recent Initiatives: Recent initiatives include the development and promotion of their AI chips and computing solutions, aiming to reduce reliance on the cryptocurrency market. They also continue to innovate on their mining hardware to improve efficiency and performance.
Summary
Canaan Inc. is a company with a strong foundation in cryptocurrency mining hardware, particularly its AvalonMiner series powered by proprietary ASIC chips. While historically a significant player, its business is highly susceptible to cryptocurrency market volatility. The company is strategically diversifying into the burgeoning AI computing sector, aiming to leverage its semiconductor expertise. Success in this new arena is critical to mitigating risks and achieving stable, long-term growth, but it faces formidable competition.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Company SEC Filings (e.g., 10-K, 10-Q)
- Financial news websites (e.g., Bloomberg, Reuters)
- Industry analysis reports
- Stock market data providers
Disclaimers:
This JSON output is for informational purposes only and does not constitute financial advice. Market share data and competitor analysis are estimates and may not be entirely accurate. Financial performance is subject to change and historical data may not be indicative of future results. Investors should conduct their own due diligence before making any investment decisions.
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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