Canaan Inc.

Canaan, Inc. provides computing solutions to solve problems. Currently, the firm is focused on the research and development of technology, including such areas as AI chips, AI algorithms, AI architectures, system on a chip (SoC) integration and chip integration. It also provides a suite of AI service solutions. The company was founded by Li Jia Xuan, Liu Xiang Fu and Zhang Nan Geng in 2013 and is headquartered in Beijing, China.

Earnings data Q4 2020

Earnings data Q1 2021

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Canaan Inc. surpasses revenue expectations amidst bitcoin industry challenges

Canaan Inc. navigated industry challenges to exceed revenue guidance, focusing on R&D investment and global mining expansion. The company faces tough market conditions but is strategically balancing share buyback and ATM use. Opportunities lie in AI chip development and expanding mining operations in North America.

Canaan Inc. Q1 2023 Sees Revival in Bitcoin Mining Demand

Canaan Inc. Q1 2023 reflects a resilient performance in the bitcoin mining industry, with a focus on innovation, global expansion, and financial stability. Despite ongoing challenges, the company is well-positioned to capitalize on opportunities for revenue growth and market share expansion.

Canaan Inc. reports robust Q2 mining revenue amidst market challenges

Canaan Inc. delivered solid financial performance in Q2 2023, with a focus on mining revenue and strategic growth initiatives. However, challenges from policy changes and market uncertainties warrant a cautious outlook for future revenue. The company remains resilient and adaptable in addressing industry dynamics.

Canaan Inc. reports Q3 revenue beat amidst market challenges

Canaan Inc. navigated a challenging quarter marked by financial losses and operational disruptions, yet demonstrated resilience through product innovation and market expansion efforts.
The company's proactive approach to raising capital and restructuring business segments indicates a strategic focus on long-term growth and sustainability.
While facing uncertainties in the industry, Canaan Inc. remains positioned to capitalize on opportunities for growth through product development and strategic partnerships.

Canaan Inc. surpasses revenue expectations, eyes growth amid market uncertainties

Canaan Inc. delivered strong financial performance in Q4 2023, surpassing revenue expectations and achieving notable sales growth. The company's strategic focus on innovation, partnerships, and operational efficiency positions it well for future growth. While challenges exist, Canaan Inc. is proactively addressing market uncertainties and pursuing growth opportunities.

Canaan Inc. reports Q1 revenue of USD 35 million, eyes growth

Canaan Inc. demonstrated strong revenue generation in Q1 2024 but faced a net loss due to significant operating expenses.
The company's focus on enhancing mining machines and managing costs positions it well for future growth and profitability.
Despite challenges, Canaan's strategic approach to cash management and product development presents opportunities for sustained success in the mining industry.
Investors should monitor Canaan's performance closely as the company aims for continued revenue growth in the upcoming quarters.

Canaan Inc. reports robust Q2 results amidst market challenges

Canaan Inc. reported strong Q2 2024 results with sequential revenue growth, operational improvements, and a positive outlook for future performance
The company's focus on innovation, cost management, and global expansion positions it well to navigate market challenges and capitalize on growth opportunities
Despite market uncertainties and operational challenges, Canaan Inc. remains resilient, adaptive, and poised for continued success in the cryptocurrency mining industry

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Canaan, Inc. is a holding company, which engages in developing and selling Bitcoin mining machines and related services. It focuses on the development of green mining. The company was founded by Jia Xuan Li, Xiang Fu Liu and Nan Geng Zhang in 2013 and is headquartered in Singapore.

BEIJING, Jan. 4, 2022 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it has entered into strategic collaboration agreements with multiple crypto mining firms for joint-mining business in Kazakhstan. On December 22, 2021, the Company successfully launched the last batch of mining machines online under its first phase of deployment in Kazakhstan.

Canaan Expands its Mining Operations with Deployment of Over 10,000 Mining Machines

Hive Blockchain Technologies Ltd

Marathon Digital Holdings

Stocks and cryptocurrencies are bouncing back after recent pullbacks.

Why Cryptocurrency Mining Stocks Were Up Big Today

The stock price of Canaan Inc (NASDAQ: CAN) fell by over 4% pre-market today. This is why it happened.

Canaan Stock (CAN): Why The Price Fell Today

The discussion around energy usage is picking up for crypto miners, and Canaan is feeling the pain today.

Elizabeth Warren and Chinese Regulators Sink Crypto Miner Canaan, Down 25%

Canaan Inc. (CAN) CEO Nangeng Zhang on Q3 2021 Results - Earnings Call Transcript

Canaan Inc (NASDAQ: CAN) reported third-quarter FY21 revenue growth of 708.2% year-on-year to $204.5 million. Revenue increased 21.8% sequentially.

Canaan Clocks ~22% Sequential Revenue Growth In Q3

BEIJING, Nov. 16, 2021 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced its unaudited financial results for the third quarter ended September 30, 2021. Third Quarter 2021 Operating and Financial Highlights Total computing power sold was 6.7 million Thash/s, up 128.4% from 2.9 million Thash/s in the same period of 2020 and up 12.9% from 5.9 million Thash/s in the second quarter of 2021, setting a new record.

Canaan Inc. Reports Unaudited Third Quarter 2021 Financial Results

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BEIJING, Nov. 9, 2021 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it plans to release its third quarter 2021 financial results before the market opens on Tuesday, November 16, 2021. The Company's management team will hold a Direct Event conference call on Tuesday, November 16, 2021, at 7:00 A.M.

Canaan Inc. to Report Third Quarter 2021 Financial Results on November 16, 2021

Bitfarms Ltd

All three seem to be benefiting from the move higher in the broader crypto market.

Why Shares of Marathon Digital Holdings, Bitfarms, and Canaan Are Up Today

After recent gains, Canaan stock is now up roughly 55% across 2021's trading.

Here's Why Canaan Stock Skyrocketed 40.3% Last Month

BEIJING, Oct. 29, 2021 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it has secured a follow-on purchase order from HIVE Blockchain Technologies Ltd. (TSX.V: HIVE; NASDAQ: HIVE) ("HIVE"), for 6,500 units of its next-generation Avalon Bitcoin mining machines.

Canaan Secures Follow-On Purchase Order From Hive Blockchain for 6,500 Bitcoin Mining Machines

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Crypto stocks are up big this afternoon. Investors are preparing for Bitcoin to near its all-time high by investing in relevant companies.

COIN and 5 Other Crypto Stocks Seeing Gains as Bitcoin Approaches $60K

Block

Crypto prices are down again, and that's not good news for anyone with exposure to cryptocurrencies.

Why Square, Coinbase, and Canaan All Dropped Along With Cryptocurrencies on Friday

BEIJING, Sept. 20, 2021 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that its board of directors has authorized a share repurchase program under which the Company may repurchase up to US$20 million worth of its outstanding (i) American depositary shares ("ADSs"), each representing 15 Class A ordinary shares, and/or (ii) Class A ordinary shares over the next 12 months starting from September 20, 2021.

Canaan Inc. Announces Up to US$20 Million New Share Repurchase Program

High-performance computing solutions provider Canaan Inc's (NASDAQ: CAN) board approved a $20 million share buyback program worth outstanding ADS, each representing 15 Class A shares over the next 12 months starting from September 20.  Canaan recently reported Q2 FY21 net earnings per ADS of $0.22.

Canaan Plans $20M Share Buyback

Canaan Inc (NASDAQ: CAN) will be a part of the FTSE Global Equity Index Series (GEIS) China Regional Index, effective after the close of business on September 17. The computing solutions provider recently posted upbeat Q2 earnings and a solid Q3 outlook.

Canaan Set To Join The FTSE Russell Indexes Today

BEIJING, Sept. 17, 2021 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it will be added to the FTSE Global Equity Index Series ("GEIS") China Regional Index (the "Index"), effective after the close of business on Friday, September 17, 2021.

Canaan to Join the FTSE Russell Indexes

Canaan Inc. (CAN) CEO Nangeng Zhang on Q2 2021 Results - Earnings Call Transcript

Earnings were great, but the market sold off the stock anyway.

Why Canaan's Stock Dropped 13.8% on Wednesday

Computing solutions provider Canaan Inc (NASDAQ: CAN) reported second-quarter FY21 revenue growth of 507.3% year-on-year to $167.5 million. A substantial increase in total computing power sold drove the numbers.

Canaan Stock Gains On Strong Q2 Performance, Robust Q3 Outlook

Canaan Clocks 507% Revenue Growth In Q2, Expands Margin

BEIJING, Sept. 15, 2021 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced its unaudited financial results for the second quarter ended June 30, 2021 and the Change of Board Composition.

Canaan Inc. Reports Unaudited Second Quarter 2021 Financial Results and Announces Change of Board Composition

Canaan Inc (NASDAQ: CAN) appointed KPMG Huazhen LLP as its independent auditor, effective September 13, dismissing PricewaterhouseCoopers Zhong Tian LLP. The reports of PwC on Canaan's consolidated financial statements as of and for the years ended December 31, 2020, and 2019 did not contain an adverse opinion or a disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope, or accounting principle.

Canaan Names New Auditor

BEIJING, Sept. 13, 2021 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it has dismissed PricewaterhouseCoopers Zhong Tian LLP ("PwC") as the Company's independent auditor on September 9, 2021 and has approved the appointment of KPMG Huazhen LLP ("KPMG") as the independent auditor of the Company, effective September 13, 2021.

News for Canaan Inc. Stock (CAN)