Canaan's Stock Surge: Benchmark Doubles Price Target to $4 as Mining Recovery Accelerates

Leading cryptocurrency mining hardware manufacturer Canaan Inc. (NASDAQ: CAN) is experiencing a significant turnaround as Benchmark Company dramatically increased its price target from $2 to $4. This bullish adjustment reflects growing confidence in Canaan's recovery trajectory amid improving market conditions for Bitcoin mining operations. The upgraded valuation signals strong momentum for the company's ASIC mining rig production and expanding market share in the competitive crypto mining sector. Analysts point to Canaan's enhanced operational efficiency and strategic positioning within the evolving digital asset ecosystem as key drivers behind this optimistic reassessment.