Two days ago, I initiated a position in $CAN (-0.81%) acquiring 500 shares at an average price of $1.58. From my perspective, the stock appears undervalued, and I plan to hold as long as that thesis remains intact.
What caught my attention recently were two major developments that could significantly impact the company’s trajectory:
- The reported order of 50,000 Avalon A15 Pro mining chips signals strong demand for Canaan’s latest hardware. This scale of deployment suggests confidence in their technology and could translate into substantial revenue growth in the coming quarters.
- Even more compelling is Canaan’s strategic pilot project in Calgary, Alberta, where they’ve partnered with Aurora AZ Energy to convert stranded natural gas into low-cost electricity for high-density computing. This gas-to-computing initiative not only reduces carbon emissions—estimated at 12,000 to 14,000 metric tons annually—but also provides a scalable, off-grid energy model for Bitcoin mining and AI workloads.
The pilot includes 700 Avalon A15 Pro units and delivers 2.5MW of computing power, with a guaranteed 90% uptime. This approach aligns with Canada’s decarbonization goals and positions Canaan to benefit from the growing demand for sustainable mining infrastructure.
I’ll be closely monitoring how these developments unfold over the next few months. If momentum builds around these initiatives, I believe there’s potential to ride a strong wave of growth. For now, I’m holding steady and optimistic.
