Canaan Inc. Plunges 12.16% to Record Low Despite Bitcoin Production Growth

Canaan Inc. (CAN) experienced a significant decline today, with its share price dropping to a record low, marking an intraday decrease of 12.16%.

In March 2025, Canaan Inc. reported a 9.8% growth in Bitcoin production, mining 90 bitcoins during the month. This increase was driven by the expansion of computing power in North America and the securing of major partnerships for a 4.7 EH/s expansion. These developments indicate a strengthening of the company's operational capabilities, which could positively influence its stock performance in the long run.

Additionally, Canaan is making progress in the development of its next-generation A16 miner. This advancement is expected to enhance the company's competitive edge in the mining industry, potentially attracting more investors and driving up the stock price. The company's strategic moves in expanding its mining operations and improving its technology are likely to have a positive impact on its market position and financial performance.