Canaan Achieves Highest Quarterly Revenue in Nearly Three Years, But Stock Price Still Falls 6.87%

Odaily News: Mining company Canaan's financial report shows that its Q4 revenue reached $196 million, a year-on-year increase of 121.1%, setting a record for the highest quarterly revenue in nearly three years. Its Bitcoin mining revenue increased by 98.5% year-on-year to $30.4 million, with Bitcoin holdings reaching 1,750 BTC and Ethereum holdings reaching 3,950 ETH. Q4 hashrate sales increased by 60% year-on-year, with total hashrate sales reaching 14.6 EH/s. Despite the growth in financial data, Canaan's stock price still fell 6.87% to $0.56 on Tuesday. Because the stock price is below $1, the company has received a delisting warning from Nasdaq and must return above $1 by July to maintain its listing status.