Benchmark: Give Canaan Technology a buy rating for the first time, and the share price may benefit from its own mining business by 5 times

Benchmark analyst Mark Palmer gave Nasdaq-listed bitcoin miner Canaan its first "buy" rating and set a price target of $3, nearly five times higher than the current share price of $0.62.
Mark Palmer pointed out that Canaan Technology's share price does not reflect its potential to expand its proprietary mining business in the United States, and that Canaan Technology holds about 1,408 bitcoins, which are worth about $133 million at current prices, accounting for about 70% of its market capitalization.