Canaan Technology’s revenue plummets 90%! Mining machine sales shrank by 96%, CAN stock price fell by 18%
The latest financial report of Bitcoin mining machine manufacturer Canaan Technology (Canaan, NASDAQ: CAN) reveals the dilemma of the mining boom! The third-quarter financial report showed that revenue dropped by 90% year-on-year to US$14.5 million, and revenue from mining machine product sales plummeted by 96%. On the day the financial report was released, CAN's stock price still fell 18.41%, reflecting the market's doubts about the demand for mining machines and the quality of profits. 〈Canaan Technology’s revenue plummeted 90%! Mining machine sales shrank by 96%, CAN stock price plummeted by 18%> This article was first published on "Block Guest".
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