Canaan (CAN) Swings to an $8 Million Profit on Bitcoin Gains as Rig Sales Collapse 96%
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- Bitcoin mining hardware producer Canaan reported an eight million dollar net profit for the quarter despite its rig sales crashing ninety-six percent.
- Equipment revenues plummeted from over one hundred eighteen million dollars to under five million dollars.
- However, the company turned its operational losses around thanks to a fifty-one million dollar fair-value gain on its held Bitcoin assets.
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- Bitcoin MagazineCanaan (CAN) Swings to an $8 Million Profit on Bitcoin Gains as Rig Sales Collapse 96% · 34 menit yang laluBaca di Bitcoin Magazine
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