Canaan Inc. (NASDAQ: CAN) is a Singapore-based designer and manufacturer of ASIC hardware for Bitcoin mining, best known for its Avalon series. Since late 2023, it has actively accumulated Bitcoin through its self-mining operations. As of June 2025, Canaan held around 1,466 BTC (~$157 million), representing roughly 55% of its market cap. The company operates multiple global mining sites with over 8 EH/s in active capacity, using low-cost energy to maximize profitability. Its Bitcoin holdings are both a strategic hedge and a core business asset, reinforcing its vertically integrated role in the mining ecosystem.
