Lens
Bitcoin News
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.
Timmy Shen
Bitcoin News
Cryptocurrency mining rig maker Canaan posted shrinking revenues and profits in the third quarter of this year, as the crypto bear market continued to plague the mining industry.
Timmy Shen
Bitcoin News
Top blockchain and crypto news: Tornado Cash, mixer crash. Cardano’s Vasil vulnerabilities. Canaan earnings buoy expansion plans.
Forkast.News
Bitcoin News
Shares of cryptocurrency mining rig maker Canaan traded up 0.77% in U.S. trading on Thursday after the company said net income expanded in the second quarter from a year earlier despite the fallout from Covid-19 lockdowns in China and challenging market conditions. See related article: Chinese mining rig maker Canaan says global expansion on track […]
Timmy Shen
Bitcoin News
Beijing’s drive to stamp out crypto mining and the slump in crypto prices are headwinds that Canaan says it knows how to deal with, adding that the crypto winter may be shorter than expected.
Timmy Shen
Bitcoin News
Chinese crypto mining rig maker Canaan is ramping up its mining business and will soon start self- or joint-mining operations in the U.S., Edward Lu, a senior vice president of Canaan, told Forkast in an interview on Thursday. See related article: Bitcoin rig maker Canaan reports over US$200 mln in Q1 revenue Fast facts “Today […]
Timmy Shen
Bitcoin News
Chinese crypto mining rig maker Canaan booked robust revenue growth in Q1 2022 despite logistical issues and supply chains disruptions from the pandemic, the company said on Thursday. See related article: SEC places Chinese crypto mining rig maker Canaan on pre-delisting list Fast facts Canaan recorded 1.36 billion yuan (US$214 million) in revenue in the […]
Timmy Shen
Regulation
The Securities and Exchange Commission (SEC) said it determined that Canaan used an auditor whose working papers cannot be inspected or investigated completely by the Public Company Accounting Oversight Board (PCAOB). See related article: Canaan to buy back up to $100M shares to drive value Fast facts The SEC Wednesday said it is placing 88 […]
Ningwei Qin
Bitcoin News
Chinese crypto mining rig maker Canaan announced Wednesday its plans to buy back up to US$100 million worth of shares over the next two years. See related article: Chinese mining rig maker Canaan secures purchase order from Genesis for 30K units Fast facts The Nasdaq-listed company’s latest move comes after it completed its previous US$20 […]
Timmy Shen
Regulation
Since China's crypto bans, Kazakhstan has become a popular destination of energy-intensive crypto mining companies.
Jeanhee Kim
