Canaan: Not The Time To Be Bearish (NASDAQ:CAN)


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ktsimage Canaan Inc. (NASDAQ:CAN) is a technology company with a global presence worldwide. Concretely, CAN’s business centers on building ASIC Bitcoin miner devices. These are specifically designed processors more efficient in speed and energy consumption than GPUs and CPUs. Currently, CAN’s devices are in high demand due to crypto’s recent price recovery. Concurrently with technological mining advances, the crypto market could also benefit from a more accessible and regulated trading environment with the potential approval of new spot Bitcoin ETFs filed by recognized financial firms, providing a growing environment for companies like CAN. I believe this justifies a “buy” rating...