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Canaan ( (CAN) ) has shared an update.
Canaan Inc. announced on October 13, 2025, the launch of a pilot project in Calgary, Canada, in partnership with Aurora AZ Energy Ltd. This initiative aims to convert flared natural gas into low-cost power for high-density computing, including bitcoin mining and AI data centers. The project is expected to demonstrate significant environmental benefits by reducing CO₂-equivalent emissions by 12,000 to 14,000 metric tons annually and provide a scalable model for energy-efficient infrastructure. By using natural gas that would otherwise be flared, Canaan’s project aligns environmental benefits with strong economic outcomes, potentially transforming wasted resources into productive energy.
The most recent analyst rating on (CAN) stock is a Buy with a $3.00 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 is primarily impacted by its weak financial performance, characterized by consistent losses and negative cash flows. Despite positive momentum in technical indicators and strong recent earnings performance, the company’s valuation remains unattractive due to a negative P/E ratio and no dividend yield. The earnings call provided some optimism with record revenue and positive EBITDA, but ongoing operational challenges and tariff impacts continue to pose risks.
To see Spark’s full report on CAN stock, click here.
More about Canaan
Canaan Inc., established in 2013, is a technology company specializing in ASIC high-performance computing chip design, research and development, computing equipment production, and software services. Known for its pioneering work in ASIC technology, Canaan launched the first batch of mining machines under the Avalon brand. The company went public on the Nasdaq Global Market in 2019.
Average Trading Volume: 47,466,953
Technical Sentiment Signal: Buy
Current Market Cap: $511.2M
For an in-depth examination of CAN stock, go to TipRanks’ Overview page.