Jianan Technology is highly regarded by Benchmark, with a target price five times higher than the current stock price

According to Decrypt, investment bank Benchmark has given Bitcoin miner manufacturer Canaan a "buy" rating in its latest report, with a target price of $3, which is five times the current stock price. Analysts say that Canaan's expansion into the North American market and its entry into the home mining machine business will help diversify revenue. Despite the recent pressure on mining companies due to the halving of Bitcoin and the increase in mining difficulty, Benchmark believes that Canaan's stock price is severely undervalued and is expected to benefit from the rise in Bitcoin prices in the future.