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Canaan Inc. Announces January 2025 Bitcoin Production and Mining Operation Updates

1. Canaan reported growth in customer base and bitcoin holdings for January 2025. 2. Two new consumer products were launched, enhancing market presence.

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FAQ

Why Bullish?

The increase in bitcoin holdings and customer base suggests strong operational performance, similar to past surges during crypto bull markets.

How important is it?

The company's advancements in products and bitcoin accumulation indicate significant operational potential affecting CAN's price.

Why Short Term?

Immediate impacts from new product launches may boost sales, but long-term trends depend on market conditions.

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BTCRIOTMARA
SINGAPORE , Feb. 19, 2025 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), an innovator in crypto mining, today released its unaudited bitcoin mining update for the month ending January 31, 2025. Management Commentary "In January, we made solid progress across all segments of our business, as we expanded our customer base, announced two Avalon Home consumer products, and advanced our self-mining capacity, leading to an increase in our bitcoin holdings," said Nangeng Zhang, chairman and chief executive officer of Canaan.

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