Benchmark has increased its price target for Canaan (CAN) ADRs to $4 from $2, driven by enhanced compliance and rising demand for its Avalon mining rigs. The firm noted a significant U.S. order for over 50,000 A15 Pro units and Canaan's expanding self-mining operations, which now boast 9.3 EH/s of deployed capacity and competitive energy costs. The resolution of compliance issues with Nasdaq has allowed Canaan to refocus on its core business fundamentals.