Shares of Canaan Inc. (CAN), a leading provider of supercomputing solutions and Bitcoin mining machine manufacturer, surged 5.34% in pre-market trading on Friday. The significant uptick comes on the heels of the company's release of its September 2025 Bitcoin production and mining operation updates.

According to the unaudited report, Canaan mined 92 Bitcoins in September 2025, marking another month of meaningful progress for the company. This production update appears to have boosted investor confidence, driving the stock's impressive pre-market rally.

The positive sentiment surrounding Canaan's stock is further reinforced by the company's growing Bitcoin holdings. A separate report indicates that Canaan mined 135.6 BTC in the past week, bringing its total holdings to an impressive 5,985.4 BTC. This accumulation strategy, coupled with consistent mining performance, seems to have resonated well with market participants, contributing to the stock's upward movement.