Stock Track | Canaan Inc. Soars 5.50% as Bitcoin Enthusiasm Surges

Stock Track

Jan 23, 2025

Canaan Inc., a leading Bitcoin mining hardware manufacturer, saw its stock surge 5.50% in the last 24 hours during Thursday's trading session. The rally was fueled by the rising enthusiasm surrounding Bitcoin and the broader cryptocurrency market.

Bitcoin's price reached a new all-time high of $109,225 early Monday, as investors anticipated a pro-crypto stance from the newly inaugurated President Donald Trump's administration. While Bitcoin pulled back slightly to around $103,842 on Wednesday afternoon, it is still up 11.7% so far this month.

Market analysts are speculating on potential catalysts that could drive Bitcoin even higher, such as the establishment of a U.S. strategic Bitcoin reserve or the approval of exchange-traded funds (ETFs) investing in smaller cryptocurrencies like Solana, XRP, and Dogecoin. The recent formation of a crypto task force at the U.S. Securities and Exchange Commission (SEC) has raised hopes for a more structured and regulated approval pathway for such ETFs, potentially unlocking new capital inflows from institutional and retail investors.

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Soars 5.50% as Bitcoin Enthusiasm Surges","media":"Stock Track","content":"<p>Canaan Inc., a leading Bitcoin mining hardware manufacturer, saw its stock surge 5.50% in the last 24 hours during Thursday's trading session. The rally was fueled by the rising enthusiasm surrounding Bitcoin and the broader cryptocurrency market.</p>\n\n<p>Bitcoin's price reached a new all-time high of $109,225 early Monday, as investors anticipated a pro-crypto stance from the newly inaugurated President Donald Trump's administration. While Bitcoin pulled back slightly to around $103,842 on Wednesday afternoon, it is still up 11.7% so far this month.</p>\n\n<p>Market analysts are speculating on potential catalysts that could drive Bitcoin even higher, such as the establishment of a U.S. strategic Bitcoin reserve or the approval of exchange-traded funds (ETFs) investing in smaller cryptocurrencies like Solana, XRP, and Dogecoin. 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Soars 5.50% as Bitcoin Enthusiasm Surges\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2025-01-23 14:28</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Canaan Inc., a leading Bitcoin mining hardware manufacturer, saw its stock surge 5.50% in the last 24 hours during Thursday's trading session. The rally was fueled by the rising enthusiasm surrounding Bitcoin and the broader cryptocurrency market.</p>\n\n<p>Bitcoin's price reached a new all-time high of $109,225 early Monday, as investors anticipated a pro-crypto stance from the newly inaugurated President Donald Trump's administration. 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