Bitcoin mining in China rebounds, defying 2021 ban [BNN Bloomberg (Canada)]
Canaan Inc. - American Depositary Shares (CAN)
Company Research
Source: BNN Bloomberg
China had been the world's biggest crypto mining country until Beijing banned all cryptocurrency trading and mining in 2021, citing threats to the country's financial stability and energy conservation. After having seen its global bitcoin mining market share slump to zero as a result of the ban, China crept back to third place with a 14 per cent share at the end of October, according to Hashrate Index, which tracks bitcoin mining activities. The resurgence in bitcoin mining, which has also been corroborated by rig maker Canaan Inc's fast-rebounding sales in China, could act as a demand and price support for the world's largest cryptocurrency. Wang, a private miner in Xinjiang, said he started mining late last year in the energy-abundant province. “A lot of energy cannot be transmitted out of Xinjiang, so you consume it in the form of crypto mining,” Wang said, asking to be identified by just his last name. “New mining projects are under construction. What I can say is that pe
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CAN
News
- Canaan (NASDAQ:CAN) had its price target lowered by analysts at B. Riley from $3.00 to $2.50. They now have a "buy" rating on the stock.MarketBeat
- Canaan (NASDAQ:CAN) had its "buy" rating reaffirmed by analysts at Rosenblatt Securities. They now have a $4.00 price target on the stock.MarketBeat
- Canaan Inc. (CAN) Q3 2025 Earnings Call Transcript [Seeking Alpha]Seeking Alpha
- Canaan Inc (CAN) Q3 2025 Earnings Call Highlights: Record Revenue and Mining Milestones Amid ... [Yahoo! Finance]Yahoo! Finance
- Canaan Inc. Reports Unaudited Third Quarter 2025 Financial ResultsPR Newswire
CAN
Earnings
- 11/18/25 - Beat
CAN
Sec Filings
- 11/18/25 - Form 6-K
- 11/12/25 - Form 6-K
- 11/7/25 - Form 6-K
- CAN's page on the SEC website