Canaan (CAN) News Today

Canaan Inc. (NASDAQ:CAN) shares moved lower today as investors digested mixed operational updates and a fresh sell-side rating. While the company hit new milestones in hash power and secured large equipment orders, a dip in September bitcoin production and a “Sell (D-)” rating from Weiss weighed on sentiment.

Key developments impacting the stock include:

• Positive Sentiment: Deployed hashrate climbed to a historic high of 9.30 EH/s in September, and Canaan’s cryptocurrency treasury reached record levels (1,582 BTC and 2,830 ETH). The company also secured its largest miner order in three years, underscoring strong demand for its ASIC hardware. Canaan Inc. Provides September 2025 Bitcoin Production and Mining Operation Updates
• Positive Sentiment: Shares surged earlier after news of multiple major mining equipment orders, signaling continued expansion of Canaan’s customer base and production pipeline. Canaan Shares Surge on Major Mining Equipment Orders
• Neutral Sentiment: Short interest in Canaan stock showed an uptick in early October, though reported volumes remain negligible, suggesting limited immediate pressure from short sellers.
• Negative Sentiment: Canaan mined fewer bitcoins in September compared to the prior month, marking a slowdown in production that could pressure near-term revenue. Canaan Mines Fewer Bitcoins in September
• Negative Sentiment: Weiss Ratings reiterated a “Sell (D-)” rating on Canaan shares, potentially adding to downside risk as some investors may reallocate funds. Canaan Given “Sell (D-)” Rating at Weiss Ratings