Canaan (ADR) (CAN)
Designs and produces Avalon mining machines and computing equipment.
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Designs high-performance ASIC chips and produces Avalon Bitcoin-mining machines, parts, accessories, and software services. The Nasdaq-listed ADS issuer sells internationally after historically China-centered mining-machine sales.
Avalon-branded Bitcoin-mining machines sit at the center of a business spanning high-performance ASIC-chip design and R&D, computing-equipment production, related parts and accessories, and software services. The research-and-development team built one of the first cryptocurrency mining machines incorporating ASIC technology, and the brand traces to a 2013 first shipment of ASIC-based Bitcoin-mining machines.
Sales of mining machines and related parts historically leaned toward China. Following adverse PRC regulatory changes, the sales footprint expanded to customers in North America, Africa, Southeast Asia, and Europe.
The Nasdaq-listed security is an ADS issued by a Cayman holding-company structure, while the company maintains a Singapore executive office and operates through international subsidiaries.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 16, 2026 | Coker Palmer | Target | Target: $4 | Target: $1 |
| May 20, 2026 | Rosenblatt Securities | Target | Target: — | Target: $1.30 |
| Feb 11, 2026 | H.C. Wainwright | Target | Target: — | Target: $1.50 |
| Dec 8, 2025 | BTIG | Target | Target: — | Target: $3 |
| Oct 23, 2025 | Coker Palmer | Target | Target: — | Target: $4 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $66.0M · Total debt $60.5M · Total assets $446.3M · Shareholders' equity $292.7M
- Revenue
- $31.9M
- Operating income
- −$61.3M
- Net income
- −$97.8M
| Institutions | 39.93% | 148.91M ADS | |
|---|---|---|---|
| 84 holders · as of Jun 30, 2026 | |||
| Insiders | 0.29% | 1.08M ADS | |
| 1 holder · as of Jun 17, 2026 | |||
| Other | 59.78% | 222.90M ADS | |
| remainder | |||
372.90M ADS (1 ADS = 15 ordinary shares) as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
The share count is from the company's Dec 2024 filing; nothing newer is on file here.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Invesco Ltd.Institution | 10.83% | 40.40M A ADS | as of Jun 30, 2026 |
Weiss Asset Management LPInstitution | 10.43% | 38.90M A ADS | as of Jun 30, 2026 |
Galaxy Digital Inc.Institution | 3.14% | 11.70M A ADS | as of Jun 30, 2026 |
Charles Schwab Investment Management IncInstitution | 2.01% | 7.51M A ADS | as of Jun 30, 2026 |
Sixth Street Partners Management Company, L.P.Institution | 2.01% | 7.51M A ADS | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 17, 2026 | Nangeng Zhang | director, officer: Chief Executive Officer | +250,000 | |
| Jun 18, 2026 | Nangeng Zhang | director, officer: Chief Executive Officer | +250,000 | |
| Jun 15, 2026 | Jin Cheng | officer: Chief Financial Officer | +65,000 | |
| Jun 15, 2026 | Nangeng Zhang | director, officer: Chief Executive Officer | +250,000 | |
| Jun 16, 2026 | Nangeng Zhang | director, officer: Chief Executive Officer | +250,000 |
- Bitdeer
Bitcoin ASIC rigs and large self-mining fleets overlap
- Ebang International
Ebit machines overlap in Bitcoin ASIC-hardware sales
- MARA
Large-scale mining fleets contend for Bitcoin block rewards
- Riot Platforms
Vertically integrated mining fleets contend for Bitcoin rewards
- CleanSpark
High-hashrate mining fleets contend for Bitcoin block rewards
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Canaan (ADR) | $0.4037 | −3.21% | $195.9M | — | — | 0.4 | +128.4% |
| Bitdeer | $13.06 | −0.58% | $3.07B | — | — | 3.8 | +47.1% |
| Ebang International | $2.05 | −6.82% | $14.4M | — | — | 2.1 | — |
| MARA | $13.70 | +3.18% | $5.06B | — | — | 6.3 | −26.7% |
| Riot Platforms | $24.70 | +2.15% | $9.14B | — | — | 13.6 | +13.9% |
| CleanSpark | $15.01 | +1.69% | $3.79B | — | — | 5.6 | −30.5% |
| Median | — | — | 5.6 | −6.4% |