Canaan’s Q3 revenue drops 90% to $14.5 million as hardware sales collapse

मुख्य बातें

• Cryptocurrency mining hardware manufacturer Canaan reported a dramatic 90% drop in its third-quarter revenue, down to $14.5 million.
• The severe decline was driven by a collapse in hardware sales.
• In response to the market downturn, the company is shifting its business strategy away from direct hardware sales toward operating its own Bitcoin mining operations.

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