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.
Latest Canaan News
ASIC firm Canaan’s Q3 income plummets 90%
Canaan’s Q3 revenue dropped by 41% while gross profit dipped by 75%, but the company says it will continue to scale its R&D projects and mining operations.
Chinese block reward mining chip designer files for Nasdaq IPO with SEC
Nano Labs was founded by Jianping and Sun Qifeng, former executives of Canaan, which currently produces HTC chips used in mining proof-of-work consensus digital currencies.
ASIC maker Canaan sues chip developer Highsharp over patent infringement
Canaan wants $14 million from China’s Highsharp, a chip developer which has partnered with AGM Holdings, the newest entrant in the ASIC market.
Canaan Q2 earnings surge amid volatile digital currency market
In its quarterly earnings report, Canaan said it sold 5.9 million terahashes per second (TH/s) of hashing power during the quarter representing a 126.9% Y/Y increase from 2.6 million TH/s.
Canaan inks new deals injecting capital into firm
The NASDAQ-listed blockchain mining hardware maker announced this week that it entered a purchase order agreement with Genesis Digital Assets Limited valued at up to $93.63 million.
Hive Blockchain ramps up hardware inventory
Canada-based Hive Blockchain Technologies Ltd. announced it exceeded its ASIC capacity goal of 1,000 PH/s through the purchase of 6,400 Canaan AvalonMiner 1246 next-generation miners.
Canaan releases new next-gen ASIC miner
The hardware manufacturer designed the Avalon Immersion Cooling Miner A1066I to be noiseless and eco-friendly.
Gaming firm The9 stock soars on news its entering block reward mining
To enable the transition to block reward mining, the NASDAQ listed company signed a binding investment term sheet with several former board directors of ASIC hardware manufacturer Canaan.
BTC price surge cannot stop Canaan’s revenue from shrinking
The NASDAQ listed hardware manufacturer reported a net loss of $12.7 million in Q3 despite a BTC price jump during the same period.
Canaan still losing money but slower
Canaan Creative has reported a Q2 2020 net loss of $2.38 million, an improvement over the prior Q1's reported loss of $5.64 million loss.
Another shakeup inside Canaan Creative leads to 4 execs ouster
U.S.-listed ASIC hardware manufacturer Canaan Creative reportedly removed four executives from its listing.