Canaan (CAN) Is Up 64.9% After Securing Largest U.S. Bitcoin Mining Hardware Order in Years

• Canaan Inc. recently announced it secured its largest order in three years, receiving a purchase order from a U.S.-based bitcoin miner for over 50,000 Avalon A15 Pro mining machines, and entered a hosting partnership with Soluna Holdings to deploy 20 MW of Avalon A15 XP miners at a Texas wind-powered data center.
• These developments highlight both a resurgence in institutional demand for advanced mining infrastructure and Canaan's growing focus on sustainable North American operations.
• We'll explore how winning its largest-ever U.S. order reinforces Canaan's investment outlook and ambition in Bitcoin mining infrastructure.

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Canaan Investment Narrative Recap

To be a Canaan shareholder, you need to believe in the long-term demand for bitcoin mining hardware despite ongoing volatility in bitcoin prices and shifting industry dynamics. The recent record-setting US order for over 50,000 mining units may boost short-term sentiment, but it does not eliminate the core risks of hardware demand cycles or potential regulatory and tariff pressures.

Among Canaan's recent announcements, the nearly 50,000-unit US order stands out most, signaling continued institutional willingness to invest in next-generation hardware and potentially supporting near-term revenue upside, the key short-term catalyst as the company seeks to offset volatility in self-mining margins.

Yet, despite this positive momentum, investors should be aware that heightened reliance on bitcoin mining hardware sales means Canaan remains exposed if institutional demand shifts to other sectors or if...

Read the full narrative on Canaan (it's free!)

Canaan's narrative projects $1.2 billion in revenue and $83.1 million in earnings by 2028. This requires 52.0% yearly revenue growth and a $349 million increase in earnings from -$266.0 million.

Uncover how Canaan's forecasts yield a $2.43 fair value, a 86% upside to its current price.

Exploring Other Perspectives

Fourteen Simply Wall St Community members estimate Canaan's fair value from US$1.29 to US$24.26 per share. While some focus on growth potential, shifting institutional investment away from mining hardware creates wide dispersion in outlooks for future performance.

Explore 14 other fair value estimates on Canaan - why the stock might be a potential multi-bagger!

Build Your Own Canaan Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Canaan research is our analysis highlighting 1 key reward and 4 important warning signs that could impact your investment decision.
• Our free Canaan research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Canaan's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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