Canaan Inc. Acquires Cipher Mining's Interest in Multiple Operational Mining Projects Totaling ~4.4 EH/s in West Texas
Canaan Inc. - American Depositary Shares (CAN)
Company Research
Source: PR Newswire
Acquires 49% equity interest in Alborz LLC, Bear LLC, and Chief Mountain LLC Adds Cipher Mining as significant shareholder through non-cash transactionIncludes acquisition of 6,840 Avalon® A15Pro mining rigsSINGAPORE, Feb. 23, 2026 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today announced that it has acquired Cipher Mining Technologies Inc.'s (NASDAQ: CIFR) ("Cipher") 49% equity interest in the joint venture comprising Alborz LLC, Bear LLC, and Chief Mountain LLC (collectively, the "ABC Projects"). Following the acquisition, the Company now owns a 49% stake in the ABC Projects, while WindHQ LLC ("WindHQ") maintains its 51% stake in the ABC Projects. The sites currently operate a total of 120 MW of power capacity and support ~4.4 EH/s of total operating hashrate. Fleet efficiency currently stands at ~25.7 J/TH with the potential for hardware and infrastructure upgrades. As part of the transaction, the Company also purchased an
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CAN
News
- Canaan Inc. Announces Open Market Share Purchases by Chief Executive Officer and Chief Financial OfficerPR Newswire
- Canaan (NASDAQ:CAN) had its "buy" rating reaffirmed by analysts at Rosenblatt Securities. They now have a $2.25 price target on the stock.MarketBeat
- Canaan (NASDAQ:CAN) had its price target lowered by analysts at Benchmark Co. from $4.00 to $2.00. They now have a "buy" rating on the stock.MarketBeat
- Canaan (NASDAQ:CAN) had its "buy" rating reaffirmed by analysts at BTIG Research. They now have a $3.00 price target on the stock.MarketBeat
- Canaan (NASDAQ:CAN) had its "buy" rating reaffirmed by analysts at HC Wainwright.MarketBeat
CAN
Earnings
- 2/10/26 - Miss
CAN
Sec Filings
- 3/3/26 - Form 6-K
- 2/25/26 - Form SCHEDULE
- 2/24/26 - Form 6-K
- CAN's page on the SEC website