Canaan Technology's Bitcoin mining revenue in the fourth quarter of last year was US$15.3 million, a year-on-year increase of 312.5%

03-26

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According to ChainCatcher, citing PR Newswire, Canaan Inc. (NASDAQ ticker: CAN), a Bitcoin mining equipment manufacturer, has released its unaudited financial results for the fourth quarter and full year of 2024.

Total revenue for the fourth quarter reached $88.8 million, exceeding expectations and representing a year-on-year growth of 80.9%; total hash rate sold set a record at 9.1 million TH/s, a 65.9% increase compared to the previous year; Bitcoin mining revenue was $15.3 million, a significant year-on-year growth of 312.5%, during which 186 bitcoins were mined, with an average revenue of $82,174 per bitcoin.

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