Canaan Technology, one of the leading companies in the technology industry, has announced unaudited financial results for the fourth quarter and the full year ending December 31, 2024. According to the report, total annual revenue for 2024 reached $269.3 million, an increase of 27.4% compared to the previous year. A highlight of Canaan's performance is the total sales capacity of 26 million TH/s, an increase of 32.6% compared to the previous year.

Cryptocurrency mining revenue in the fourth quarter reached $15.3 million, a 312.5% increase compared to the same period last year, with 186 Bit mined. Total revenue from self-operated mining activities in 2024 reached $44.02 million, an increase of 29.6% compared to the previous year.

Looking ahead, Canaan expects total revenue for 2025 to range from $900 million to $1.1 billion. Specifically, in the first quarter of 2025, the company expects total revenue to be around $75 million. Meanwhile, the forecast for the second quarter is from $120 million to $150 million.

This announcement is made for market information purposes and is not investment advice. Canaan's growth plan faces many challenges and opportunities in the volatile cryptocurrency market.