Canaan Inc. Announces $72 Million ADS Offering to Boost North American Expansion

Canaan ( (CAN) ) just unveiled an announcement.

On November 4, 2025, Canaan Inc. announced a US$72 million registered direct offering of American Depositary Shares (ADSs), with plans to issue 63,660,477 ADSs at a price of US$1.131 each. The proceeds from this offering are intended to fund the acquisition and development of data center sites in North America, expand Bitcoin mining machine production capacity, and support research and development. This strategic move is expected to enhance Canaan’s operational capabilities and strengthen its market position in the digital mining industry.

The most recent analyst rating on (CAN) stock is a Hold with a $1.50 price target. To see the full list of analyst forecasts on Canaan stock, see the CAN Stock Forecast page.

Spark’s Take on CAN Stock

According to Spark, TipRanks’ AI Analyst, CAN is a Neutral.

Canaan’s overall stock score reflects a mix of significant financial challenges and recent operational improvements. The earnings call was a positive highlight, showing record revenue and improved EBITDA, but ongoing losses and valuation concerns weigh on the score. Technical indicators suggest potential for upward movement, but the financial performance remains a critical area for improvement.

To see Spark’s full report on CAN stock, click here.

More about Canaan

Canaan Inc., established in 2013 and listed on NASDAQ under the symbol CAN, is a technology company specializing in ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. The company is known for its pioneering work in ASIC technology, having shipped the world’s first batch of mining machines under the brand name Avalon in 2013.

Average Trading Volume: 52,341,036

Technical Sentiment Signal: Buy

Current Market Cap: $609.7M

For a thorough assessment of CAN stock, go to TipRanks’ Stock Analysis page.