Canaan(US:CAN) Zhi Tong Cai Jing·2025-11-18 23:03Core Viewpoint - Canaan Inc. (CAN.US) reported strong Q3 2025 earnings with significant revenue growth despite a GAAP loss per share, indicating robust demand in the cryptocurrency mining sector [1] Financial Performance - Q3 2025 GAAP loss per share was $0.05, missing market expectations of a profit of $0.04 [1] - Revenue for Q3 reached $150.5 million, a year-over-year increase of 104.5%, exceeding expectations [1] Mining Operations - Total computing power sales surpassed 10.0 EH/s for the first time, marking a historical high with a year-over-year growth of 37.7% and a quarter-over-quarter growth of 55.6% [1] - Mining revenue for the quarter was $30.6 million, a substantial year-over-year increase of 241%, setting a quarterly record [1] - The company mined 267 bitcoins during the reporting period, with an average revenue of $114,485 per bitcoin despite increasing network difficulty [1] Future Outlook - For Q4 2025, Canaan expects revenue to be in the range of $175 million to $205 million, significantly above the market consensus of $148.28 million [1] - The company noted that this outlook reflects short-term market conditions and customer demand dynamics, with potential adjustments based on market changes [1]