Crypto mining rig maker Canaan shares slump after Q4 revenue sank 82%

Canaan’s shares on Nasdaq closed 3.83% lower at US$2.51 on Wednesday after the cryptocurrency mining rig maker reported an 82% year-on-year drop in revenue on Tuesday for the fourth quarter of last year, citing “lackluster market demand” for mining machines as the price of Bitcoin fell.

• 2023-03-09
• Bitcoin fourth quarter mining machines price of Bitcoin Canaan cryptocurrency mining

Crypto Mining Rig Maker Canaan's Q4 Revenue Sunk 82% to $56.8M

The firm reported Q4 net loss per ADS of 38 cents compared to $1 for the same period in 2021.

• 2023-03-07
• mining machines Canaan computing power fourth quarter