10 Most Undervalued Bitcoin Mining Stocks to Buy Now

4. Canaan Inc. (NASDAQ:CAN)

Analyst Upside: 215.32%

Number of Hedge Fund Holders: 16

Canaan Inc. (NASDAQ:CAN) is a holding company that develops and sells Bitcoin mining machines and related services. It specializes in green mining. The company also designs, researches, and sells Integrated circuits (IC) and leases mining equipment by integrating IC products for Bitcoin mining and related components in China.

The company’s February results showed steady strides in its mining operations and product innovation. It successfully upgraded its mining rigs at Stronghold’s Panther Creek facility, achieving 0.93 EH/s of fully operational hash rate since February. In addition, its joint mining collaboration with Luna Squares is on schedule. These efforts led to a sequential increase in Canaan Inc.’s (NASDAQ:CAN) month-end operating hash rate from 5.53 EH/s to 5.73 EH/s and helped grow its owned cryptocurrency balance sheet to 1,355 bitcoins.

Beyond mining, Canaan Inc. (NASDAQ:CAN) is focused on delivering innovative and accessible mining solutions. In February, it introduced the Avalon Q, a compact, app-controlled home mining machine that delivers 90 TH/s of computing power with ultra-quiet operation. Avalon Q is the first professional-grade Bitcoin miner that supports a 110V home power supply. It is available for pre-order, and delivery is anticipated to begin in April 2025. The company takes the fourth spot on our list of the 10 most undervalued bitcoin mining stocks to buy now.