BTC miner Canaan records $80 million Q3 loss
Canaan cited a dip in the price of BTC and a slowdown in the ASIC rig sales for its loss as it announced a new offering seeking to raise $148 million.
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BTC miner Canaan posts $110M net loss in Q2 despite improved revenues
Canaan recorded $110 million in losses despite hitting an uptick in revenue at $74 million, with inventory write-down and equipment impairment to blame.
Canaan Q4 revenue drops 80% as demand for block reward miners dips
Canaan saw its total computing power sold dip 75% from Q4 2021, with revenue taking a similar dip, but its mining revenue shot up 360% from the previous year.