Canaan

Canaan reports record revenues meanwhile Korea says no to crypto tax delay

Leading Chinese crypto mining hardware manufacturer attributes robust revenue to ‘substantial increase in total computing power sold.’

The order follows a June purchase by Genesis of 10K machines from China-based Canaan, one of the world’s biggest Bitcoin mining rig makers

North America emerges as hardware demand hotspot amid Beijing’s regulatory onslaught against cryptocurrency sector.

Optimum Mining Host-Black Rock Petroleum plan comes as Canaan seeks greener operations through Czech partnership.

Regulatory uncertainty pushes India’s crypto industry towards self regulation as a secret Ethereum miner gets busted in Seoul Arts Center.

Crypto investors in South Korea stir petitions to unseat the nation’s financial watchdog chief for his anti-crypto remarks.

Caught in the US-China trade war crossfire, the semiconductor manufacturer’s shares tumbled alongside Beijing’s fading dreams of a domestic silicon supply.

Also: Dozens of crypto firms sued in 11 class-action lawsuits. Bitcoin mining company Canaan bleeds red ink. Fintech funding in India, and more.

Aside from concerns about mismanagement, what else is causing Canaan to flounder? Forkast.News analyzes Canaan and the many storms — including the Covid economy and the next Bitcoin halving — now rocking the world of crypto mining.