Canaan rises after quarterly revenue forecast above estimates

Canaan

18/11/2025 13:02

** Shares of BTC mining machine maker Canaan CAN.O up about 4.3% at $0.89 premarket

** CAN expects Q4 revenue between $175 million and $205 million, above analysts' avg. estimate of $160.3 million - data compiled by LSEG

** Co's Q3 revenue rises 104.4% to $150.5 million from year ago vs estimates of $132.3 million, driven by demand in both mining machine sales and self-operated mining

** Posts Q3 net loss of $27.7 million vs loss of $75.6 million from a year ago

** As of last close, stock down ~60% YTD

 (Reporting by Koyena Das)

 ((koyena.das@thomsonreuters.com))