Canaan Inc. (NASDAQ:CAN) is one of the
15 Best Tech Stocks with Huge Upside Potential.
On May 20, 2026, Rosenblatt lowered the firm’s price target on Canaan Inc. (NASDAQ:CAN) to $1.30 from $2.25 and maintained a Buy rating on the shares after the Q1 report. Rosenblatt said Canaan is “persevering” through declining bitcoin prices and rising energy costs. The firm also said the company is making strategic moves to become a more vertically integrated bitcoin miner while diversifying into home markets and cutting costs.
On May 19, 2026, Canaan Inc. (NASDAQ:CAN) announced that it was selected to support a district heating network in the Nordic region. The heating solution, developed with a Nordic heating provider, uses Canaan’s Avalon A1566HA series hydro-cooled units with a combined capacity of approximately 8 MW. The units are designed to deliver thermal output directly into local heating networks and will replace the customer’s traditional heating solutions.
On May 14, 2026, Canaan Inc. (NASDAQ:CAN) released its unaudited bitcoin mining update for April 2026. The company reported record cryptocurrency holdings of 1,826 BTC and 3,952 ETH. Installed hashrate grew 34.6% year-over-year to 10.97 EH/s, excluding hashrate from JV. CEO Nangeng Zhang said April was a “constructive reset” for Canaan, with 90 BTC delivered from self-mining operations and another 3 BTC received from customer payments.
Canaan Inc. (NASDAQ:CAN) researches, develops, designs, and sells integrated circuits, bitcoin mining equipment, and related components.
While we acknowledge the potential of CAN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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