ChainAiNexus price

Down more than 70% this year, $BTC mining rig maker Canaan has had a rough run, but could be a five-bagger from here, says Benchmark's Mark Palmer. $CAN @willcanny99 reports

Singapore-based developer of bitcoin mining ASIC chips and rigs Canaan (CAN) has had a rough run, but could be a five-bagger, suggests Benchmark analyst Mark Palmer. Palmer on Tuesday initiated coverage of the ADRs with a buy rating and a $3 price target. The shares closed yesterday at $0.62, lower by 72% year-to-date. Canaan's dual strategy is focused on the development of ASIC bitcoin chips and rigs, and the expansion of its self-mining operations, especially in the United States, said Palmer. "CAN’s vertically integrated approach differentiates it within the bitcoin mining space while positioning it to capitalize on both chip/rig sales and proprietary mining revenues," he wrote. Canaan's push into home mining rigs has diversified the company's revenue, he further noted. The equipment maker is also growing its self-mining capacity in the U.S. and globally. "While the company derived just 16.3% of its 2024 revenues from its self-mining operations, it intends to increase the total computer power driving its self-mining operations by mid-2025 to 10 EH/s in North America and 15 EH/s globally," Palmer added. Canaan has a stack of 1,408 bitcoin with a current value of around $133 million, or nearly 70% of its current market cap, said Palmer. That should be supportive of the company's valuation. Read more: Bitcoin Miners With HPC Exposure Underperformed BTC for Third Straight Month: JPMorgan

《Scanning the Base AI Ecosystem》 1 Over the past two days, Brother Silly and the crew drank heavily, so let's quickly review the primary market from the past two days. 2 This morning, I checked and wow, Vader has doubled. 3 The virtual whale has started moving. 4 In hindsight, Vader itself is a token worth holding onto for dear life; it's the kind of mother coin that drives the market upward. 5 If Holly doesn't work out, there are other smaller tokens to step in as substitutes. 6 Under conditions of insufficient liquidity, the virtual ecosystem on Base has adopted a very clever strategy. 7 By leveraging small projects, some with market caps of just a few hundred thousand, and using an automated and flexible point allocation algorithm, 8 they distribute new issuance quotas. 9 Retail investors, in pursuit of these points, stake Vader, which significantly reduces selling pressure on Vader and boosts expectations for Virtual itself. 10 The Base AI ecosystem is characterized by slow market-driving actions and poor trading dynamics, but its long-term bullish outlook is solid. 11 Underestimating the Base ecosystem is also a mistake. 12 Misjudging the trend could lead to a complete loss. 13 Vader has risen from $5M to $26M. 14 Virtual has grown from $300M to $700M. 15 Accurately judging the cycles of tailwinds and headwinds is extremely important for Base. 16 Looking at Solana, with the recent Can and WINGS, 17 it shows that the AI fast-track harvesting speed on Sol is accelerating, which is also a trend. 18 Purely exploitative projects masquerading as VC-backed ventures—Brother Silly finds this hilarious.

Publicly traded Bitcoin miners 👇 $BTC HODL as of 4/25/2025 $MARA $HUT $CLSK $HIVE $CIFR $BTBT $BITF $DMGI $IREN $CAN $CBIT $ANY $CORZ $SDIG $ARBK $WULF $MIGI $GREE $BTDR $GRDI $SLNH $FUFU

Canaan $CAN, maker of Bitcoin mining rigs, is up 11% today. If that’s due to hopes Trump’s tariff exclusions cover mining machines, that’s likely optimistic. Code 8542 (exempt) covers ASIC chips, but full rigs likely fall under other categories and remain tariffed. Thoughts?