An Undervalued Bitcoin Stock To Watch Amid Market Turmoil
1. Canaan increased bitcoin production by 10% in March, but faces market uncertainty. 2. Company's fortunes depend on strong digital asset values and mining demand. 3. Canaan reported a $4.7 million impairment hit in 2023 on bitcoin valuation. 4. Company expects substantial revenue growth, projecting up to $1.1 billion this year. 5. Canaan's stock is down 37% in the past year, indicating investor concern.