Bitcoin News Update: Canaan's Shift Toward Bitcoin Mining Drives 18% Increase and Sets New Record in Holdings
- Canaan Inc. shares surged 18% pre-market after Q3 revenue jumped 104.4% to $150.5M, surpassing estimates. - Bitcoin mining revenue soared 241% to $30.6M, driven by 267 BTC mined and 10 EH/s computing power sold. - Company boosted crypto holdings to 1,610 BTC/3,950 ETH by October 2025 and secured a 50,000-unit mining machine order. - Q4 revenue guidance ($175-205M) exceeds $148. 3M estimates, but risks include U.S. tariffs and regulatory shifts. - Analysts maintain "buy" ratings with a $3.00 price target
Canaan Inc. (NASDAQ: CAN) saw its shares jump 18% in pre-market trading on Tuesday, fueled by a sharp improvement in its financial results and an unprecedented increase in its
The improvement in gross profit signaled a major turnaround for
Looking forward, Canaan
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