Canaan Technology today released its report of unaudited financial results for the year ended September 30, 2024. Revenue for the third quarter of 2024 was $73.61 million, a significant increase compared to $71.86 million in the second quarter of 2024 and $33.32 million in the same quarter of 2023. Total revenue includes product revenue of $64.58 million, mining revenue of $8.96 million, and other revenue of $65,000.
Mining revenue: Mining revenue in the third quarter of 2024 was $8.96 million, basically the same as $9.31 million in the second quarter of 2024, and a significant increase from $3.26 million in the same quarter of 2023. The year-on-year increase is mainly due to the increase in mining hashrate.
As of September 30, 2024, the company held a total of 1,231.3 bitcoins and held cryptocurrency assets and cryptocurrency receivables with a combined fair value of $79.02 million.
Canaan Technology's third-quarter revenue rose 120.9% year-on-year
2024-11-20 11:59:33
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