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Canaan's revenue in the third quarter of 2023 is US$33.3 million and holds 860 Bitcoins

Canaan's revenue in the third quarter of 2023 is US$33.3 million and holds 860 Bitcoins

2023/11/29

Canaan recently announced its unaudited financial results for the three months ended September 30, 2023. As of September 30, 2023, the company owned 860 Bitcoins, reaching an all-time high. Revenue in the third quarter of 2023 was $33.3 million, including $29.9 million in product revenue, $3.3 million in mining revenue and other revenue of $118,000, compared with $57.9 million in product revenue in the second quarter of 2023. The decrease compared to the second quarter of 2023 was primarily due to a decrease in total hashrate sold and sales price, which was due to overall softer market demand.

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