Streetbeat News

CAN

Canaan Inc.

Industry

Computer Hardware

Canaan Inc. engages in the research, design, and sale of integrated circuit (IC) final mining equipment products by integrating IC products for bitcoin mining and related components primarily in the People's Republic of China. It is also involved in the assembly and distribution of mining equipment and spare parts. The company has a strategic cooperation with Northern Data AG in the areas of artificial intelligence development, blockchain technology, and datacenter operations. Canaan Inc. was founded in 2013 and is based in Beijing, the People's Republic of China.

Open

2.90

Mkt cap

836M

Volume

25M

High

2.93

P/E Ratio

-2.09

52-wk high

3.50

Low

2.62

Div yield

N/A

52-wk low

0.72

Canaan Inc. has signed an agreement with AGM Group Holdings Inc. to provide 2000 A15 Hydro Bitcoin mining machines, marking a step in Canaan's global expansion.

Portfolio Pulse from

December 12, 2024 | 9:30 pm

Canaan Inc. (NASDAQ: CAN) will participate in investor conferences in December 2024, hosting one-on-one meetings with institutional investors.

Portfolio Pulse from

December 02, 2024 | 10:15 am

Canaan Inc. has successfully closed a Series A-1 preferred shares financing, raising $30 million from an institutional investor. The company issued 30,000 Series A-1 Convertible Preferred Shares at $1,000 each.

Portfolio Pulse from

November 26, 2024 | 9:45 am

Canaan Inc. (CAN) has experienced a 'golden cross', where its 50-day moving average has crossed above its 200-day moving average, indicating potential bullish momentum.

Portfolio Pulse from

November 22, 2024 | 4:15 pm

Canaan's Q3 earnings report exceeded expectations for revenue but fell short on earnings per ADS. The company saw significant growth in compute power sold and improved rates. The Avalon Nano 3 machine could attract more home miners if Bitcoin surpasses $100k.

Portfolio Pulse from

November 21, 2024 | 1:45 pm

Canaan Inc. held its Q3 2024 earnings call, discussing financial performance and future outlook.

Portfolio Pulse from

November 20, 2024 | 5:45 pm

Canaan (CAN) reported a Q3 loss of $0.27 per share, which was larger than the Zacks Consensus Estimate of a $0.15 loss. However, the company exceeded revenue expectations.

Portfolio Pulse from

November 20, 2024 | 1:15 pm

Canaan Inc. has entered into a securities purchase agreement to issue and sell up to 30,000 Series A-1 Preferred Shares to an institutional investor. The proceeds will be used to expand its digital mining operations and equipment in North America.

Portfolio Pulse from

November 20, 2024 | 10:30 am

Canaan Inc. reported its unaudited financial results for Q3 2024, showing a significant revenue increase of 120.9% year-over-year to $73.6 million, surpassing previous guidance. The company's total computing power sold also rose by 93.8% YoY.

Portfolio Pulse from

November 20, 2024 | 10:30 am

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