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.
Latest Nangeng Zhang News
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.
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.
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.