Canaan Inc. (CAN) Reports Record Bitcoin Production in May
Canaan Inc. (NASDAQ:CAN) is one of the 13 Crypto Stocks with the Highest Upside Potential. Canaan Inc. (NASDAQ:CAN) reported record Bitcoin production in May 2025, attaining a notable 25% month-over-month growth. The growth materialized despite the increased tariffs on the company’s Malaysia-made mining machines.
A close up view of a final mining equipment used in bitcoin mining.
Canaan Inc. (NASDAQ:CAN) mined a record 109 Bitcoins, taking its total holdings to 1,466 bitcoins, reaching new highs in operational and installed hash rates. The growth corresponds with the rising demand for Bitcoin mining machines across the globe, along with rising Bitcoin prices. These factors bolster Canaan Inc.’s (NASDAQ:CAN) strategic focus on shareholder value and sustainable growth.
In other news, the company announced the termination of a $100 million preferred share financing agreement because of market conditions, along with a $30 million stock repurchase program.
Canaan Inc. (NASDAQ:CAN) is a holding company that develops and sells Bitcoin mining machines and related services. It specializes in green mining. The company also designs, researches, and sells Integrated circuits (IC) and leases mining equipment by integrating IC products for Bitcoin mining and related components in China.
While we acknowledge the potential of CAN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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