US Stock Market Move | Canaan Inc. Sponsored ADR Class A (CAN.US) rose 9.8% in Q3, with mining business revenue increasing by 241% year-on-year.

On Tuesday, Canaan Inc. Sponsored ADR Class A (CAN.US) saw its stock price rise, with the stock up 9.8% to $0.9382 as of the time of writing. The company's performance for the third quarter of 2025 showed a GAAP loss per share of $0.05, lower than the market's expected profit of $0.04, but the revenue performance was impressive, with Q3 recording $150.5 million, a 104.5% increase year-on-year and exceeding expectations. In the current quarter, Canaan Inc. Sponsored ADR Class A's total computing power sales exceeded 10.0 EH/s for the first time, setting a new historical high. This data increased by 37.7% year-on-year and 55.6% quarter-on-quarter, indicating a significant increase in global mining machine demand against the background of the rebound in bitcoin prices and mining investment. The company's mining business performed well, with mining revenue reaching $30.6 million in the third quarter, a 241% year-on-year increase and a quarterly record. During the reporting period, the company mined a total of 267 bitcoins, with an average revenue per bitcoin of $114,485 as network difficulty continued to rise. Looking ahead to the fourth quarter of 2025, Canaan expects revenue to be in the range of $175 to $205 million, significantly higher than the market's consensus expectation of $148.28 million. The company stated that this forecast reflects short-term market conditions and customer demand dynamics, and may be adjusted in the future due to market changes.