Analyst: Benefiting from the expansion of self operated mining, the stock price of Jianan Technology may have a 5-fold upward potential

Odaily Planet Daily News: Benchmark analyst Mark Palmer has given a "buy" rating to Bitcoin miner manufacturer Canaan Technology (NASDAQ: CAN) for the first time and set a target price of $3, nearly five times higher than the current stock price of $0.62. Palmer pointed out that the stock price of Canaan Technology did not reflect its potential to expand its self operated mining business in the United States. The company plans to increase its self operated mining computing power in North America to 10 EH/s and global total computing power to 15 EH/s by 2025. In addition, Jianan Technology holds approximately 1408 bitcoins, valued at approximately $133 million at current prices, accounting for about 70% of its market value, which should help support its valuation. Palmer emphasized that Canaan Technology's vertical integration strategy gives it a differentiated advantage in the field of Bitcoin mining, enabling it to profit from both chip/mining machine sales and self operated mining. （CoinDesk）