Canaan expects Q3 2026 total revenue between $11 mln and $15 mln
Company says it will continue to monitor global policy and market developments
Canaan plans to maintain disciplined inventory and financial flexibility in H2 2026
Result drivers
Bitcoin price pressure - Co said lower bitcoin prices led to weaker mining economics, reduced equipment demand, and lower average selling prices
Inventory and asset write-downs - Co recorded $25.3 mln in inventory and prepayment write-downs and $9.2 mln in property and equipment impairment, mainly due to lower cryptocurrency prices
Cost control measures - Co said it kept mining-machine production costs stable and maintained a competitive power cost base, while tightening spending and cash-flow management
Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "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 is $1.50, about 316.7% above its September 4 closing price of $0.36
CAN•
