According to PANews on May 7, investment bank Benchmark has given a buy rating to Bitcoin mining machine manufacturer Canaan Inc. in its latest report, with a target price of $3, which is five times the current stock price. Analysts pointed out that Canaan's expansion into the North American market and entry into the home mining machine business will help diversify its revenue. Although Bitcoin halving and increased mining difficulty have put pressure on mining companies, Benchmark believes that Canaan's stock price is significantly undervalued and is expected to benefit from a rise in Bitcoin prices in the future.

PANews reported on May 7 that according to Decrypt, investment bank Benchmark gave Bitcoin mining machine manufacturer Canaan Inc. a "buy" rating in its latest report, with a target price of $3, which is five times the current share price. Analysts said that Canaan's expansion in the North American market and its entry into the home mining machine business will help diversify revenue. Although mining companies have been under pressure recently due to the halving of Bitcoin and the increase in mining difficulty, Benchmark believes that Canaan's stock price is seriously undervalued and is expected to benefit from the rise in Bitcoin prices in the future.

Benchmark is optimistic about Canaan Inc., setting a target price five times the current stock price.