When I l ast covered Canaan Inc (NASDAQ: CAN ) for Seeking Alpha in March of this year, I rated the stock a 'hold' and noted the company's high cash burn and reliance on shareholder dilution for funding operations. The latter of which isAnalyst’s Disclosure: I/we have a beneficial long position in the shares of CAN, BTC-USD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seek ...

Canaan Inc. (NASDAQ:CAN) Q3 2024 Earnings Conference Call November 20, 2024 8:00 AM ET Company Participants Gwyn Lauber - Investor Relations Director Nangeng Zhang - Chairman and CEO James Cheng - CFO Conference Call Participants Kevin Cassidy - Rosenblatt Securities Nick Giles - B. Riley Securities Kevin Dede - H.C. Wainwright Operator Ladies and gentlemen, thank you for standing by and welcome to Canaan Inc.'s Third Quarter of 2024 Earnings Conference Call. At this time, all participants are in a listen-o ...

Canaan (CAN) came out with a quarterly loss of $0.27 per share versus the Zacks Consensus Estimate of a loss of $0.15. This compares to loss of $0.41 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -80%. A quarter ago, it was expected that this cryptocurrency-mining computer maker would post a loss of $0.30 per share when it actually produced a loss of $0.15, delivering a surprise of 50%.Over the last four quarters, the compan ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |------------------------------------|-------|-------------------------------|-------------------|-------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Operating & Financial Results | | | | | | | | | | For the Third | | Quarter Ended September | 30, 2024 | | | | | | | | | | | | | | | | | | ...

- Total Revenue Increased to US$73.6 Million, up 120.9% YoY - - Total Computing Power Sold Achieved 7.3 Million Thash/s, up 93.8% YoY - SINGAPORE, Nov. 20, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced its unaudited financial results for the three months ended September 30, 2024. Third Quarter 2024 Operating and Financial Highlights Revenues were US$73.6 million, which beat the previous guidance of US$73 m ...

Continues expansion of its self-mining expansion and Bitcoin mining machine business in North America SINGAPORE, Nov. 20, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company" or "We"), a leading high-performance computing solutions provider, today announced that it has entered into a securities purchase agreement (the "Securities Purchase Agreement") with an institutional investor (the "Buyer"), pursuant to which the Company shall issue and sell to the Buyer up to 30,000 Series A-1 Pref ...

Complementing the Earlier November Order of 6,500 Avalon A1566 MinersSINGAPORE, Nov. 20, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that Canaan Creative Global Pte. Ltd. ("CCG"), a wholly owned Singapore subsidiary of the Company, has entered into a follow-on order purchase agreement with HIVE Digital Technologies Ltd ("HIVE"), for its Avalon A15-194T miners.According to the purchase agreement, CCG will ...

Plans to install Avalon A14 and A15 mining machines at joint mining sitesTakes significant steps toward 10 EH/s capacity in North America by mid-2025SINGAPORE, Nov. 20, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that its wholly owned subsidiary, Beet Digital LLC., has entered into a strategic joint mining agreement with Luna Squares Texas LLC ("LS Texas"), a West Texas Bitcoin mining firm, to collaborat ...

SINGAPORE, Nov. 14, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it plans to report its financial results for the third quarter ended September 30, 2024, before the U.S. market opens on November 20, 2024.The Company's management team will hold a conference call at 8:00 A.M. on November 20, 2024, U.S. Eastern Time (9:00 P.M. on the same day, Singapore Time) to discuss the financial results. Details fo ...

Continues North American Expansion with Order from Long-term Customer SINGAPORE, Nov. 11, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that Canaan Creative Global Pte. Ltd. ("CCG"), a wholly owned Singapore subsidiary of the Company, has entered into a purchase agreement with HIVE Digital Technologies Ltd ("HIVE"), for its Avalon A1566 miners. According to the purchase agreement, CCG will provide HIVE wit ...