OverviewSuggest Edit

Canaan is a company that develops supercomputing chips and manufactures blockchain computing equipment. It primarily develops bitcoin mining machines incorporating ASIC technology.

TypePublic
Founded2013
HQBeijing, CN
Websitecanaan.io

Latest Updates

Employees (est.) (Sept 2019)297
Revenue (FY, 2019)$204.3 M(-92%)
Share Price (Jan 2021)$5.5 (-11%)
Cybersecurity ratingAMore

Key People/Management at Canaan

N.G. Zhang

N.G. Zhang

Founder & CEO

Canaan Office Locations

Canaan has an office in Beijing
Beijing, CN (HQ)
1-2 floor QianFang Science Building C, ZPark 27
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Canaan Financials and Metrics

Canaan Revenue

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Canaan's revenue was reported to be $204.35 m in FY, 2019
USD

Revenue (FY, 2019)

204.3m

Gross profit (FY, 2019)

(74.1m)

Gross profit margin (FY, 2019), %

(36.3%)

Net income (FY, 2019)

(1.0b)

Market capitalization (11-Jan-2021)

864.8m

Closing stock price (11-Jan-2021)

5.5

Cash (31-Dec-2019)

74.2m

EV

941.2m
Canaan's current market capitalization is $864.8 m.
Annual
CNYFY, 2017FY, 2018FY, 2019

Revenue

1.3b2.7b204.3m

Revenue growth, %

107%

Cost of goods sold

703.7m2.2b278.5m

Gross profit

604.4m508.1m(74.1m)
Quarterly
CNYQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019

Revenue

1.1b878.5m480.5m47.2m241.5m670.6m

Cost of goods sold

282.7m1.2b431.7m46.8m230.8m524.4m

Gross profit

785.9m(338.2m)48.8m463.0k10.8m146.2m

Gross profit Margin, %

74%(39%)10%1%4%22%
CNYFY, 2017FY, 2018FY, 2019

Cash

176.5m258.9m74.2m

Accounts Receivable

1.3m23.7m2.9m

Prepaid Expenses

636.4m186.7m206.0m

Inventories

259.8m585.7m196.1m
USDFY, 2017FY, 2018FY, 2019

Net Income

375.8m122.4m(1.0b)

Depreciation and Amortization

9.1m13.1m

Inventories

(123.9m)(325.8m)53.0m

Accounts Payable

27.6m(3.2m)7.4m
USDFY, 2017

Financial Leverage

1.4 x
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Canaan Operating Metrics

FY, 2017H1, 2018FY, 2018H1, 2019

Average Selling Price Per Unit

¥4.40 k¥7.16 k¥4.73 k¥1.10 k

Mining Machines Sales Volume (A7 series), set

294.52 k20.58 k20.58 k

Mining Machines Sales Volume (A8 series), set

245.74 k503.24 k212 k

Mining Machines Sales Volume, set

294.52 k266.31 k559.14 k253.35 k
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Canaan Acquisitions / Subsidiaries

Company NameDateDeal Size
Canaan Convey Co.
Canaan Creative Co
Canaan Creative (HK) Holdings Limited
Hangzhou Canaan Blockchain Technology Co.
Hangzhou Canaan Creative Information Technology Co.
Hangzhou Lifeng Intelligence Agriculture Co.
Hangzhou Ruihong Technology Co.
Langfang Creative Technology Co.
Zhejiang Avalon Technology Co.

Canaan Revenue Breakdown

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Canaan revenue breakdown by business segment: 99.8% from Products revenue and 0.2% from Other

Canaan revenue breakdown by geographic segment: 10.0% from Other foreign countries, 10.5% from United States of America, 76.1% from PRC and 3.4% from Other

Canaan Cybersecurity Score

Cybersecurity ratingPremium dataset

A

95/100

SecurityScorecard logo

Canaan Online and Social Media Presence

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Canaan News and Updates

Former Canaan Directors to Guide Chinese Gaming Firm’s Pivot to Crypto Mining

Former directors of Canaan Inc. are investing in the Shanghai firm and will help launch its new mining subsidiary.

Riot, Marathon, Canaan See Record Monthly Share Gains as Bitcoin Clears All-Time High

Mining companies are soaring as bitcoin hits record highs.

Canaan Inc. Reports Unaudited Third Quarter 2020 Financial Results

HANGZHOU, China, Nov. 30, 2020 (GLOBE NEWSWIRE) -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced its unaudited financial results for the three months ended September 30, 2020.

Canaan Inc. to Report Third Quarter 2020 Financial Results on November 30, 2020

HANGZHOU, China, Nov. 20, 2020 (GLOBE NEWSWIRE) -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced that it plans to release its third quarter 2020 financial results before the market opens on Monday, November 30, 2020.

Venture Investor Canaan Raises $800 Million for New Fund

Venture Investor Canaan Raises $800 Million for New Fund

Gov. Justice, Tourism Office, and DNR announce $12 million in improvement projects coming to Blackwater Falls and Canaan Valley Resort state parks

Under Justice Administration, major improvement projects have now been completed or started at every state park in West Virginia​read more
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Canaan Blogs

Avalon Made,Quality Maker

The meaning of Avalon Made is iterate both its engineering culture and spirit of craftsmanship to create high-quality products and service.

User Guide for AvalonMiner – Firmware Upgrade

User Guide for AvalonMiner - Firmware Upgrade

Why Few Players Still Dominate Crypto Mining Hardware Industry

The crypto mining hardware industry is still dominated by a few players because the sector needs an innovative approach for new players, the CEO of Canaan, the second largest designer and manufacturer of Bitcoin mining machines globally has said.

Innovation First: Shaping a New Trajectory for the Future of Bitcoin Mining

"Whether it's a groundbreaking chip innovation or a new technology, the mining industry still has years to go as it awaits the next revolution in bitcoin mining." Our CEO Nangeng Zhang reflects on the state of innovation in crypto mining with Nasdaq.

AvalonMiner 1246 test report by Cybtc.com

In Sep.2020, Canaan - One of the top bitcoin miner manufacturer launched the newest generation of Avalon miner - A1246, in which the hash rate can be achieved 90T/s, power efficiency is 38J/T.

Canaan Inc. Reports Unaudited Third Quarter 2020 Financial Results

Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced its unaudited financial results for the three months ended September 30, 2020.
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Canaan Frequently Asked Questions

  • When was Canaan founded?

    Canaan was founded in 2013.

  • Who are Canaan key executives?

    Canaan's key executives are N.G. Zhang.

  • How many employees does Canaan have?

    Canaan has 297 employees.

  • What is Canaan revenue?

    Latest Canaan annual revenue is $204.3 m.

  • What is Canaan revenue per employee?

    Latest Canaan revenue per employee is $688 k.

  • Who are Canaan competitors?

    Competitors of Canaan include Lumaxis, Com-Power Corporation and Cembre.

  • Where is Canaan headquarters?

    Canaan headquarters is located at 1-2 floor QianFang Science Building C, ZPark 27, Beijing.

  • Where are Canaan offices?

    Canaan has an office in Beijing.

  • How many offices does Canaan have?

    Canaan has 1 office.