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Why Canaan Stock Blasted 5% Higher Today

Why Canaan Stock Blasted 5% Higher Today

Canaan (NASDAQ: CAN), one of the small universe of companies that sprang up to mine Bitcoin (CRYPTO: BTC), is a direct beneficiary of that cryptocurrency's rise over the past few days. On Monday, thanks to the general sustained bullishness on Bitcoin and other top coins, Canaan's stock closed just over 5% higher.