Bitcoin Boosts Canaan’s Mining Output, But 1 Risk Could Stall Progress
Posted On June 16, 2025
Canaan Inc.‘s (NASDAQ:CAN) May press release indicated that 109 bitcoins were mined, up 25% from April’s figure, driven by favorable prices of the world’s leading cryptocurrency, according to Rosenblatt Securities.
The Canaan Analyst: Analyst Kevin Cassidy reaffirmed a Buy rating and price target of $5.
The Canaan Thesis: While Ethiopia remains the company’s largest mining site, U.S. …
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