Canaan Technology's Q3 revenue plummeted 90% year-over-year to $14.5 million

Odaily reports: Bitcoin mining machine manufacturer Canaan Technology (Canaan) saw its third-quarter revenue drop 90% year-over-year to $14.5 million, with mining equipment revenue falling 96% year-over-year. Although the company recorded an operating loss of $42.9 million, driven by approximately $52 million in fair value gains from cryptocurrencies and derivatives, it ultimately achieved a net profit of $8 million. (The Block)