Canaan Inc.

Canaan Inc. is a technology company established in 2013, specializing in the research and development, design, and sale of high-performance computing integrated circuits (ASICs) and related equipment. The company's core business revolves around providing solutions for the cryptocurrency mining industry, particularly Bitcoin. Headquartered in Singapore, Canaan operates with a vision that "super computing is what we do, social enrichment is why we do it."

Canaan's primary products include its Avalon series of Bitcoin mining machines, which were among the first to incorporate ASIC technology. Beyond hardware sales, the company offers software services, assembly and distribution of mining equipment, and engages in self-mining operations. While previously involved in AI semiconductor development, Canaan has strategically shifted its focus to concentrate on its core mining machine business and related services.

In recent news, Canaan Inc. filed its 2025 Annual Report on Form 20-F on April 15, 2026. The company reported strong Q4 2025 revenues of $196.3 million, exceeding expectations, driven by record computing power sales, though it posted a wider-than-expected EPS loss. Canaan continues to expand its mining capacity, notably in North America, and has grown its cryptocurrency treasury to 1,808 BTC and 3,952 ETH as of March 2026. The company also announced an extended collaboration with Tether in April 2026 for customized Bitcoin mining hardware. Nangeng Zhang serves as the Chairman of the Board and Chief Executive Officer.