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Benchmark Sees Canaan as Indirect Investment in Bitcoin, Shares Gain

The broker initiated coverage of the mining-equipment business' stock with a buy rating and $9 price target.

Canaan SVP Edward Lu with the Avalon 1266 model at Bitcoin 2022 conference. (CoinDesk)
Canaan SVP Edward Lu with the Avalon 1266 model at Bitcoin 2022 conference. (CoinDesk)