Bitcoin Miner Canaan’s Stock Spikes After Q3 Revenue Rise, Even as BTC Falls

Canaan Inc., a Bitcoin mining firm, saw its stock price rise by nearly 16% following the release of its Q3 2025 earnings report, which highlighted a 104% year-over-year increase in revenue, reaching $150.5 million. Revenue growth was driven by a significant uptick in mining machine sales and self-operated mining activities, despite the firm reporting a net loss of $27.7 million. This loss, however, was an improvement from the previous year's loss of $75.6 million. Canaan's mining operations generated 267 Bitcoin, adding up to an average revenue of $114,485 per coin. Meanwhile, Bitcoin's price fell to around $90,000 overnight, the lowest since April, although it showed signs of recovery shortly thereafter. Canaan's cash position also strengthened, with $119.2 million bolstered by institutional investments. The firm anticipates revenues ranging from $175 to $205 million for Q4 2025, reflecting market dynamics and client demands.

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