SCHEDULE: Weiss Asset Management Discloses 6.6% Stake in Canaan Inc.

Weiss Asset Management LP, WAM GP LLC, and Andrew M. Weiss have disclosed a 6.6% beneficial ownership stake in Canaan Inc. as of December 31, 2025.

Summary

• Weiss Asset Management LP, WAM GP LLC, and Andrew M. Weiss collectively reported beneficial ownership of 649,584,750 Class A Ordinary Shares of Canaan Inc.
• This ownership represents 43,305,650 American Depository Shares (ADS), with each ADS representing 15 Class A Ordinary Shares.
• The aggregate amount beneficially owned constitutes 6.6% of Canaan Inc.'s Class A Ordinary Shares.
• The reporting persons hold shared voting and shared dispositive power over all 649,584,750 shares.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
• The percentage of class calculation is based on 9,863,671,365 Class A ordinary shares outstanding as of November 3, 2025, as reported in the Issuer's Form 424B5.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive development. The disclosure of a significant institutional stake by a reputable asset manager suggests confidence in Canaan Inc.'s value proposition and future, without indicating any activist intent.

Positives

• Increased institutional ownership by a reputable asset manager like Weiss Asset Management may signal confidence in Canaan Inc.'s long-term prospects.
• The disclosure indicates a significant, non-activist stake, suggesting a passive investment strategy rather than an intent to influence company control.

Negatives

• No explicit negatives are present in this Schedule 13G filing, which primarily reports ownership.

Risks

• No specific risks related to Canaan Inc.'s operations or financial health are disclosed in this ownership filing.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that the disclosure of a significant institutional stake in Canaan Inc. by Weiss Asset Management could be interpreted as a positive signal for the cryptocurrency mining and blockchain technology sector, especially given the volatility and regulatory scrutiny often associated with it. Such an investment from a sophisticated asset manager might suggest a belief in the long-term viability and growth potential of companies operating in this space, potentially attracting further institutional interest.

Comparison to Industry Standards

• While direct comparisons of institutional ownership percentages vary widely across companies and sectors, a 6.6% stake by a single investment group is a notable position, indicating a conviction in Canaan Inc. specifically rather than a broad market index play.
• For companies in the volatile crypto mining industry, significant institutional backing can provide a degree of stability and validation, contrasting with smaller, retail-dominated holdings often seen in emerging or speculative sectors.

Stakeholder Impact

• Shareholders: May view the increased institutional ownership as a vote of confidence, potentially leading to increased investor interest and stability in the stock price.
• Management: The presence of a significant, non-activist institutional investor could provide a stable shareholder base, allowing management to focus on long-term strategic goals without immediate pressure for control changes.

Key Dates

Recommendation

The disclosure of a 6.6% stake by Weiss Asset Management is a positive signal, indicating institutional confidence in Canaan Inc. However, a Schedule 13G filing primarily reports ownership and does not provide new operational or financial performance data to warrant a 'buy' recommendation. Investors should 'hold' and monitor future company performance and market developments, considering this institutional backing as a supportive factor.

Keywords

Canaan Inc., CAN, Weiss Asset Management, WAM GP LLC, Andrew M. Weiss, Schedule 13G, Beneficial Ownership, Institutional Investor, Class A Ordinary Shares, American Depository Shares, Cryptocurrency Mining, Blockchain Technology