According to PANews, investment bank Benchmark has issued a 'buy' rating for Bitcoin mining equipment manufacturer Canaan, setting a target price of $3, which is five times its current stock price. Analysts highlight Canaan's expansion into the North American market and its entry into the home mining equipment sector as factors that could diversify its revenue streams. Despite recent pressures on mining companies due to Bitcoin halving and increased mining difficulty, Benchmark believes Canaan's stock is significantly undervalued and could benefit from a rise in Bitcoin prices.

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