Canaan Inc.CAN
What Canaan Inc. does.
We primarily focus on providing crypto mining solutions through our proprietary ASICs. We have strong ASIC chip design capability underpinned by over ten years of industry experience and the expertise of our founders and management team. We are one of the few fabless IC design companies with the advanced technology to independently design ASIC, established access to leading wafer foundry capacity and proven in-house capability to produce Bitcoin mining machines. We primarily dedicated technology and expertise in ASIC applications to industrial Bitcoin mining machines and are a leading producer of Bitcoin mining machines in the global market. In addition, to further diversify our product offering and democratize access to bitcoin mining, we launched the Avalon Home series in 2024 and formally commercialized it in 2025, a new line of compact, energy-efficient mining devices crafted for individual users and home environments. The Avalon Home series represents our first step into the home-use mining machine market, blending reliable hash rate output with user-friendly interfaces, low noise operation, and streamlined connectivity. We believe our extensive experience and expertise in ASIC applications position us well in our future endeavors.
Revenue and profit, by fiscal year.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $68.6M | $772.8M | $651.5M | $211.5M | $269.3M | $529.7M |
| Net income | -$33.0M | $309.1M | $69.9M | -$414.2M | -$249.8M | -$210.3M |
| Free cash flow | $6.1M | $196.6M | -$200.3M | -$126.9M | -$218.6M | -$295.8M |
More on CAN.
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Figures from Canaan Inc.'s filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.