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Canaan Inc. (CAN) Focused on High-Performance Computing Opportunities amid Stable BTC Business

Canaan Inc. (NASDAQ:CAN) is one of the best cryptocurrency and blockchain stocks to buy now. On January 14, Canaan Inc. (NASDAQ:CAN) announced strong growth in its mining operations, reporting a 61% year-over-year increase in operating hashrate and an 82% jump in installed hashrate, reaching 9.91 EH/s. The company mined 86 BTC in December and closed 2025 with record crypto holdings of 1,750 BTC and 3,951 ETH.

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Canaan also expanded its global power capacity to more than 250 MW across nine projects, improved miner efficiency to 24.3 J/TH, renewed a $30 million share buyback program, and launched a 3 MW heat-recovery initiative in Canada. However, despite outperforming the Bitcoin network’s 34% hashrate growth, the company continues to face financial pressure, with a negative 58% free cash flow yield and its stock down 52% over the past year.

On January 6, Canaan Inc. (NASDAQ:CAN) unveiled a 3.0 MW proof-of-concept program with Bitforest Investment Ltd, designed to recover heat from an Avalon Computing system. The companies plan to use the recovered heat as a supplemental source for greenhouse operations.

On December 8, BTIG initiated coverage of Canaan with a Buy rating and $3 price target, noting the company’s long history of producing ASIC mining rigs, including the efficient A16 model. Canaan also operates a self‑mining fleet across eight global data centers with holdings of about 1,600 BTC, and is focused on expanding self‑mining, increasing rig market share, and securing power infrastructure as part of its vertically integrated strategy.

Canaan Inc. (NASDAQ:CAN) is a technology company specializing in ASIC supercomputing chips, primarily known for designing and manufacturing Bitcoin mining machines (under the Avalon brand) and for providing related software, services, and edge computing solutions, with a focus on integrating efficient, often green, computing into applications such as data centers and energy.

While we acknowledge the potential of CAN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CAN and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Debt-Free Penny Stocks to Buy Right Now and 10 Best Blue Chip Stocks to Buy for 2026.

Disclosure: None. This article is originally published at Insider Monkey.

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When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

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