Fedorchak Belen's questions to Canaan Inc (CAN) leadership • Q2 2025
Question
Fedorchak Belen of B. Riley Securities asked for a summary of the company's North America plans and the expected evolution of average selling prices (ASP) through 2025 and into 2026, considering some miners are postponing expansion for AI initiatives.
Answer
CEO Nanjing Zhang explained that while the current hash price indicates a bull market, ASP is artificially low due to the supply/demand imbalance from U.S. tariffs. He expressed cautious optimism for ASPs in late 2025, expecting them to rise as U.S. market access improves via local manufacturing and as the higher-performance A16 series is introduced. He believes this will help normalize the market.