Canaan’s 2Q mining revenue jumps 43% on 1Q, but net loss climbs 31%
Bitcoin mining company Canaan announced its unaudited financial results for Q2 2023, showing growth in computing power sold and BTC mining revenues while it tackled a significant net loss of $110 million. up 31% on Q1.The NASDAQ-listed company outlined a variety of reasons influencing incr ...
Canaan Halves Hashrate Following Shutdown of Centers in Kazakhstan
Canaan has halved its hashrate. This follows the shutdown of the firm's centers in Kazakhstan. The counterparty is forced to do so due to regulatory restrictions. In July 2023, bitcoin miner Canaan cut its production capacity in Kazakhstan by 2 EH/s. ...
Canaan Unveils Immersively Cooled Bitcoin Miner A1366I with High Power and Overclocking Capabilities
Mining equipment manufacturer Canaan introduced a new bitcoin miner A1366I. It is immersively cooled and designed to fit in special containers. The power of the new ASIC miner is 165 Tx/s, however, the efficiency is not too high - 30 Joules per terahash. Because of its ...
Canaan’s Q4 Revenue Collapses by 82% as Cryptocurrency Market Falters
Canaan, the ASIC miner manufacturer based in China, has reported its financial results to the US Securities and Exchange Commission (SEC), indicating a massive 82% drop in revenue during the last quarter of the year. The report shows that the company earned a meager $56.8 million during October-D ...