Canaan Inc. Reports Unaudited Third Quarter 2024 Financial Results
Canaan Inc. - American Depositary Shares (CAN)
Company Research
Source: PR Newswire
- Total Revenue Increased to US$73.6 Million, up 120.9% YoY -- Total Computing Power Sold Achieved 7.3 Million Thash/s, up 93.8% YoY -SINGAPORE, Nov. 20, 2024 /PRNewswire/ -- Canaan Inc. (NASDAQ: CAN) ("Canaan" or the "Company"), a leading high-performance computing solutions provider, today announced its unaudited financial results for the three months ended September 30, 2024.Third Quarter 2024 Operating and Financial HighlightsRevenues were US$73.6 million, which beat the previous guidance of US$73 million and increased 120.9% year-over-year.Total computing power sold was 7.3 million Thash/s, representing a year-over-year increase of 93.8%.Mining revenue was US$9.0 million, with 147 Bitcoins mined with an average revenue per Bitcoin mined of US$61,034.Loss from operations was US$56.8 million, narrowing 49.6% year-over-year.Nangeng Zhang, chairman, and chief executive officer of Canaan, commented, "Despite a challenging third quarter for the industry, we delivered a solid US$73.6 mi
Show less
Read more
Impact Snapshot
Event Time:
CAN
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
CAN alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
CAN alerts
High impacting Canaan Inc. - American Depositary Shares news events
Weekly update
A roundup of the hottest topics
CAN
News
- Canaan Inc. (NASDAQ: CAN) had its "buy" rating re-affirmed by analysts at HC Wainwright. They now have a $3.00 price target on the stock.MarketBeat
- Canaan Inc (CAN) Q3 2024 Earnings Call Highlights: Record Revenue and Strategic Growth Amid ... [Yahoo! Finance]Yahoo! Finance
- Canaan (CAN) Reports Q3 Loss, Tops Revenue Estimates [Yahoo! Finance]Yahoo! Finance
- Canaan Inc. Announces the Execution of a Securities Purchase AgreementPR Newswire
- Canaan Inc. Secures Follow-On Order from HIVE for 5,000 Avalon A15-194T MinersPR Newswire
CAN
Earnings
- 11/20/24 - In-Line
CAN
Sec Filings
- 11/20/24 - Form 6-K
- 11/20/24 - Form 6-K
- 11/20/24 - Form 6-K
- CAN's page on the SEC website