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
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CAN
News
- Canaan Inc. Signs Agreement with AGM Group Holdings Inc.PR Newswire
- Canaan Inc. (NASDAQ: CAN) had its price target raised by analysts at Rosenblatt Securities from $3.00 to $4.00. They now have a "buy" rating on the stock.MarketBeat
- The Benchmark Company Announces Upcoming Discovery One-on-One Investor ConferenceGlobeNewswire
- Canaan Inc. to Participate in Upcoming Investor ConferencesPR Newswire
- Canaan Inc. Closes Series A-1 Preferred Shares FinancingPR Newswire
CAN
Earnings
- 11/20/24 - In-Line
CAN
Sec Filings
- 12/19/24 - Form F-6EF
- 12/13/24 - Form 6-K
- 12/9/24 - Form 6-K
- CAN's page on the SEC website