Canaan Technology Q1 revenue of $35.09 million, holding 1057 bitcoins
2024-05-17 13:27:07
Canaan Technologies has released unaudited earnings figures for the three months ending March 31, 2024. Quarter 1 revenue for 2024 was $35.09 million, 6% above previous expectations of $33 million. Mining revenue was $10.46 million, up 182.1% from the previous quarter. The number of bitcoins held by the company exceeded 1,000 for the first time, reaching a record of 1,057. Net loss was $39.39 million, down 71.7% from the previous quarter and 53.3% from the previous year.
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