Canaan Inc. American Depositary Shares (CAN)

Canaan reported Q2 2025 revenue of $100.2 million, up 40% year-over-year, with record adjusted EBITDA of $25.3 million. The company expanded U.S. manufacturing, saw significant growth in home miners, and provided Q3 revenue guidance of $125-$145 million.

Dataprana has launched a 30MW immersion-cooled data center in La Marque, Texas, supporting digital asset mining operations with 1,280 Whatsminer M66S units across 10 Intelliflex pods, marking a significant milestone in their infrastructure development.

The article suggests that Canaan (CAN) stock may be nearing a bottom, with the formation of a hammer chart pattern indicating a potential trend reversal. Positive earnings estimate revisions and a Zacks Rank #2 (Buy) further enhance the prospects of a turnaround for the cryptocurrency-mining computer maker.

Canaan (CAN) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

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