Bitcoin mining firm Canaan Inc. is on the rise on Tuesday, with its inventory worth hovering following a third-quarter 2025 earnings report that confirmed important income development pushed by stable development in each mining machine gross sales and self-operated mining operations.
The Nasdaq-listed firm’s shares, which commerce beneath the image CAN, are up practically 16% on the day to a latest worth of $0.988, narrowing its five-day loss to 11%. Canaan continues to be down about 38% over the past month, for Yahoo Financeechoing latest losses seen in different bitcoin miners and cryptocentric corporations.
Canaan’s complete income reached $150.5 million, representing a 104% year-over-year enhance and 50% development from the earlier quarter.
This comprised $118.6 million in product gross sales, $30.6 million in mining income (up 241% year-over-year), and $1.3 million in different income. The corporate achieved a gross revenue of $16.6 million, a big change from a gross lack of $21.5 million within the third quarter of 2024.
Regardless of the income development, Canaan reported a internet lack of $27.7 million, though this improved from a lack of $75.6 million within the prior-year interval. The loss included a non-cash influence of $9.5 million from adjustments within the truthful worth of the popular inventory. Non-GAAP Adjusted EBITDA was constructive at $2.8 million, in comparison with a lack of $34.1 million within the third quarter of 2024.
The corporate bought greater than 10 exahashes per second (EH/s) of computing energy, setting a quarterly file with 56% sequential development. The mining operations produced 267 Bitcoin with a median income of $114,485 per coin.
On the finish of the quarter, the corporate’s treasury expanded to 1,582 BTC and a pair of,830 ETH, and continued to develop to 1,610 BTC and three,950 ETH by the tip of October. At present costs, that is equal to about $150 million value of Bitcoin and $12.3 million value of Ethereum.
Canaan’s money place strengthened to $119.2 million, pushed by a Strategic funding of $72 million from institutional traders, together with Brevan Howard and Galaxy Digital, in November.
Canaan launched its next-generation A16XP mining machine with computing energy of 300 TH/s and vitality effectivity of 12.8 J/TH. The corporate obtained a order for greater than 50,000 mining machines from an nameless American consumer and initiated a gasoline to computing pilot challenge in Canada.
For the fourth quarter of 2025, Canaan expects income between $175 million and $205 million, reflecting evolving market circumstances and buyer dynamics.
Bitcoin continued to fall in a single day, plunging under the $90,000 mark for the primary time since April. Nevertheless, the coin has been rising since then, just lately buying and selling round $93,500. Whereas it has remained largely secure over the previous 24 hours, BTC has remained nearly 11% down over the previous week.
