Crypto miner Canaan Q2 revenue jumps 39.5%

Overview

• Canaan Q2 2025 revenue up 39.5% YoY to $100.2 mln, exceeding company's guidance

• Bitcoin mining revenue hits record $28.1 mln, up 201.6% YoY

• Pretax profit beats analyst expectations, per LSEG data

Outlook

• Canaan expects Q3 2025 revenue between $125 mln and $145 mln

• Company will monitor global policy and market developments for outlook adjustments

Result Drivers

• RECORD MINING REVENUE - Bitcoin mining revenue reached an all-time high of $28.1 mln, up 201.6% YoY, driven by increased mining capacity

• COMPUTING POWER SALES - Total computing power sold increased 16.5% sequentially, reflecting diversified market penetration

• BITCOIN TREASURY EXPANSION - Bitcoin treasury expanded to 1,511 bitcoins by July-end, marking a strategic milestone

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the blockchain & cryptocurrency peer group is "buy"

• Wall Street's median 12-month price target for Canaan Inc is $2.10, about 61.2% above its August 13 closing price of $0.82

• The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 2 three months ago

Press Release: ID:nPnbrGvBha