Canaan Inc.

Canaan Inc. (NASDAQ: CAN) stands as a prominent public company in the United States, renowned for its pioneering role in the Bitcoin mining hardware industry. Founded in 2013, Canaan has established itself as a global leader in the design and manufacture of high-performance ASIC mining machines, most notably the Avalon series. The company’s core business model revolves around providing cutting-edge mining solutions to both institutional and retail clients, while also engaging in proprietary Bitcoin mining operations.

Canaan’s Bitcoin strategy is twofold: it not only supplies miners to a worldwide customer base but also actively mines Bitcoin to strengthen its balance sheet and hedge against market volatility. This dual approach allows Canaan to benefit from both hardware sales and direct Bitcoin accumulation, positioning the company as a significant player in the broader Bitcoin ecosystem. The company’s investment thesis centers on the long-term value proposition of Bitcoin, leveraging its technological expertise to maximize mining efficiency and capitalize on favorable market conditions.

In the competitive landscape of Bitcoin mining, Canaan’s significance is underscored by its consistent innovation, strategic partnerships, and expanding mining operations. As the Bitcoin industry matures, Canaan’s integrated approach—combining hardware manufacturing with self-mining—sets it apart as a key contributor to the network’s security and decentralization.

Recent Developments

Canaan Inc. has demonstrated a steady commitment to increasing its Bitcoin holdings through ongoing mining activities and operational expansion. Here are the most recent Bitcoin-related milestones:

• March 31, 2025: Canaan added 177 BTC to its treasury, as reported in its latest financial statement (SEC.gov).
• September 30, 2024: The company increased its Bitcoin reserves by 174 BTC, according to its unaudited third-quarter 2024 financial results (investor.canaan-creative.com).
• March 31, 2024: Canaan’s press release confirmed the addition of 147.8 BTC during the first quarter of 2024 (investor.canaan-creative.com).
• December 31, 2023: The company reported an increase of 49.2 BTC to its holdings at year-end 2023 (investor.canaan-creative.com).
• September 30, 2023: Canaan made a significant addition of 860 BTC during the third quarter of 2023 (investor.canaan-creative.com).

Additional recent updates highlight Canaan’s ongoing operational growth. In January 2025, the company expanded its self-mining capacity and energized new Avalon miners, resulting in a sequential increase in Bitcoin mined compared to previous months. Canaan’s management has emphasized the importance of these expansions in both the U.S. and international markets, further solidifying its position as a major Bitcoin holder and mining innovator investor.canaan-creative.com.

Canaan’s proactive approach to both hardware innovation and Bitcoin accumulation continues to reinforce its reputation as a leader in the Bitcoin mining sector, with a clear focus on long-term growth and resilience in the evolving digital asset landscape.