Why These 15 Crypto Stocks Have Been Plunging In 2025

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1. Canaan Inc ADR (NASDAQ:CAN)

Number of Hedge Fund Holders In Q4 2024: 16

Canaan Inc ADR (NASDAQ:CAN) is a Singapore-based tech company specializing in integrated Bitcoin mining circuits.

The stock is down significantly so far in 2025 after new crypto restrictions in China impacted the company’s market prospects.

And obviously, crypto miners haven’t delivered the best performance in the past few months. They have scaled back their crypto expansion plans and are focusing on HPC and AI.

As a result, Canaan reported a gross loss for Q4 2024, with revenues of $89 million failing to offset operational costs. This resulted in a narrowed gross loss between $6 million and $10 million, but it is still very unprofitable.

The consensus price target of $4.33 implies 241.21% upside.

CAN stock is down 38.05% year-to-date.

While we acknowledge the potential of CAN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CAN but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires

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