Bitcoin Mining Hardware Manufacturer Canaan Records Steep Losses Amid $3 Billion Industry Rout

Nasdaq-listed Chinese mining equipment manufacturer Canaan reported increased revenues in Q2, but its bottom line remains underwater. Its topline increased from $55.2 million in Q1 to $73.9 million in Q2, while it sustained a $22.5 million higher loss than Q1 as miners stockpile machines ahead of the Bitcoin (BTC) halv

Nasdaq-listed Chinese mining equipment manufacturer Canaan reported increased revenues in Q2, but its bottom line remains underwater. Its topline increased from $55.2 million in Q1 to $73.9 million in Q2, while it sustained a $22.5 million higher loss than Q1 as miners stockpile machines ahead of the Bitcoin (BTC) Bitcoin halving countdown.