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    Mike Gundahl

    Research Analyst at Northland Capital Markets

    Mike Grondahl is the Head of Institutional Equity Sales, Trading and Research, and Senior Research Analyst at Northland Capital Markets, specializing in financial technology and business services. He covers specific companies including Green Dot, LendingTree, Encore Capital Group, and Porch Group, with a performance record that includes a 46% success rate and an average return per rating of 15.4%, as ranked in the top 500 out of nearly 10,000 Wall Street analysts on TipRanks. Grondahl joined Northland in 2016, bringing over 25 years of experience that includes roles in public accounting at Ernst & Young and Deloitte & Touche, and he was named #8 in TipRanks’ 2020 Top 100 Wall Street Analysts. He holds FINRA SIE, Series 7, and Series 24 licenses and graduated summa cum laude from the University of St. Thomas.

    Mike Gundahl's questions to Canaan (CAN) leadership

    Mike Gundahl's questions to Canaan (CAN) leadership • Q2 2025

    Question

    Mike Gundahl of Northland Capital Markets inquired about current market dynamics, the pricing strategy and demand for A15 miners, and the company's strategy for penetrating the North American market with its new U.S. production facility.

    Answer

    CEO Nanjing Zhang noted that the Average Selling Price (ASP) rose from $10.5/TH in Q1 to $11.1/TH in Q2, despite U.S. tariff impacts. He explained that customer purchasing willingness is returning and the new U.S. facility will improve delivery. CFO Jin James Chang added that recent orders from Cypher and CleanSpark validate their strategic focus on the important U.S. market.

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