by: xpoolPosted on:

Canaan Secures Major US Order, Price Target Doubles

Canaan Inc.’s stock price target has been raised by Benchmark to $4, reflecting the company’s impressive turnaround and surging demand for bitcoin mining hardware in the U.S. market. This significant milestone comes on the heels of Canaan’s successful restoration of Nasdaq compliance and a substantial increase in US equipment orders. 50,000 units of their flagship Avalon A15 Pro mining hardware were sold, highlighting the demand surge tied to Canaan’s technological advancements.

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