Bitcoin miner maker Canaan records highest quarterly profit since 2019 IPO
Chinese Bitcoin miner manufacturer Canaan Inc. has reported significant revenue figures for the second quarter of 2021. Despite the price decline for Bitcoin (BTC) in Q2 2021, mining hardware maker Canaan has recorded significant business gains during the period.According to Canaan’s unaudited Q2 financials published on Tuesday, the company recorded over $1 billion Chinese renminbi (about $167.5 million) in total net revenue for Q2. This figure marks the highest quarterly sales for the Bitcoin miner maker.Indeed, Canaan’s Q2 revenue represents a 168% increase from the figures reported in....
Related News
The Bitcoin miner manufacturer recorded saw its year-on-year revenue tumble amid supply chain disruptions and a global chip shortage. Bitcoin’s bullish 2020 closeout was not enough to prevent Canaan from incurring a net loss in 2020.According to the company’s unaudited financial report for Q4 2020, the Bitcoin (BTC) miner maker’s net loss for 2020 was about $33 million. However, Canaan’s 2020 net loss is significantly lower than the $148 million recorded in 2019.Indeed, the reduction in net loss for Canaan was a common theme across the company’s quarterly performance in 2020. As previously....
The Chinese crypto miner maker Canaan has been expanding its mining business, accumulating a total of 346.84 BTC by the end of June. Major Chinese cryptocurrency miner manufacturer Canaan appears to have no issues with the local ban on crypto, as the company’s overall performance has continued to grow in 2022.Canaan officially announced financial results for the second quarter of 2022 on Thursday, reporting a 117% increase in gross profit from the same period of 2021. According to the firm, the Q2 profits amounted to 930 million renminbi (RMB), or nearly $139 million.The company’s Q2 net....
Genesis Digital Assets' new Bitcoin Texan mining center will have a capacity of 300 megawatts. Major U.S.-based Bitcoin (BTC) mining firm Genesis Digital Assets is building a new data center in West Texas. According to the firm’s Nov.1 announcement, the new industrial-scale BTC mining data center will have a capacity of 300 megawatts and will operate using unspecified “sustainable infrastructure.” Its energy will be sourced from the Electric Reliability Council of Texas (ERCOT). As part of the announcement, Genesis co-founder and executive chairman Abdumalik Mirakhmedov emphasized that....
The publicly listed ASIC mining rig manufacturer, Canaan, has announced the launch of a new submerged liquid-cooled bitcoin miner called the Avalonminer A1066I. Canaan claims the new immersion cooling miner is noiseless and capable of significant overclocking, as the miner’s cooling system increases power efficiency by 78%. The China-based and Nasdaq-listed bitcoin mining rig manufacturer, Canaan, has revealed a new bitcoin miner with some interesting attributes. The new miner is called the Avalon Immersion Cooling Miner (A1066I) and its components are designed to operate while being....
Canaan has just announced the launch of the new AvalonMiner 721 ROQ Solid Miner. Canaan says the AvalonMiner 721 miner offers some of the most top-of-the-line features in the mining device industry today. 6 Terahash Per Second (THS) Average Consistent Hashrate. Founded in 2013, Canaan (canaan.io) has been creating leading ASIC microprocessor devices....