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

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Net -$11.06

Income mln

Q2 Beat -$10.28 -$26.60

Pretax mln mln (6

Profit Analysts

)

Q2 -$27.07

Income mln

From

Operatio

ns

Q2 -$36.38

Operatin mln

g

Expenses

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 ( CAN ) 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:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)