February 2026 Update Reflects Canaan Inc. (CAN)’s Advancing Energy-Focused Strategy and U.S. Expansion

Canaan Inc. (NASDAQ:CAN) is included in our list of the 7 best blockchain stocks to buy right now.

February 2026 Update Reflects Canaan Inc. (NASDAQ:CAN)’s Advancing Energy-Focused Strategy and U.S. Expansion

As of March 30, 2026, 86% of covering analysts maintain “Buy” ratings for Canaan Inc. (NASDAQ:CAN), signaling positive analyst sentiment. A 408.52% upside potential is implied by the consensus price target of $2.00.

On March 10, 2026, Canaan Inc. (NASDAQ:CAN) disclosed the company’s unaudited February 2026 bitcoin mining update, highlighting the ongoing expansion of its energy-integrated mining technology.

Canaan Inc. (NASDAQ:CAN) reported that it mined 86 bitcoin during the month and ended February with a record treasury of 1,793 BTC and 3,952 ETH, valued at almost $128 million, adjusted for digital assets held by its joint venture. While non-JV operating hashrate was 6.90 EH/s, Canaan Inc. (NASDAQ:CAN)’s deployed hashrate was 14.75 EH/s, including 4.4 EH/s linked to its 49% share in the Alborz, Bear, and Chief Mountain data centers. Additionally, the average all-in electricity cost recorded was $0.044/kWh.

According to CEO Nangeng Zhang, the outcomes show that Canaan Inc. (NASDAQ:CAN)’s energy-focused strategy and U.S. expansion are advancing. The company’s expanding digital asset reserves continue to bolster the balance sheet, he added.

Moreover, Canaan Inc. (NASDAQ:CAN) added 120 MW of power capacity at an average cost of less than $0.03/kWh to its current installed North American capacity of 98.4 MW as part of its recent West Texas expansion.

Canaan Inc. (NASDAQ:CAN) focuses on the development and sale of Bitcoin mining machines and related services. At the same time, the company is expanding its global mining operations and energy integration strategy by growing its focus on efficient and environmentally conscious cryptocurrency mining infrastructure.

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