Canaan's Q4 2022 Revenue Declines by 82.1% YoY to $56.8M

Canaan, a Chinese Bitcoin miner and manufacturer of ASIC mining machines, reported an 82.1% YoY revenue decline to $56.8M in Q4 2022. The company's net income swung to a $63.6M loss due to inventory write-downs and research expenses. Despite the decline in revenue, Canaan's mining revenue improved by 368.2% YoY to $10.46M. (Read More)
from Blockchain News https://Blockchain.News/news/canaans-q4-2022-revenue-declines-by-821%-yoy-to-56.8m