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Canaan Posts Sharp Q4 Revenue Rebound as Bitcoin Mining Demand Heats Up

Bitcoin mining rig maker Canaan delivered a dramatic fourth-quarter turnaround, with revenue more than doubling as bitcoin miners rushed back into the market for new hardware, signaling renewed confidence after a sluggish stretch earlier in the year. Mining Hardware Demand Powers Canaan’s Fourth-Quarter Comeback Canaan Inc. reported fourth-quarter revenue of $196.3 million, a 121.1% increase […] Also read: Canaan Revenue Soars in Q4 While Company Grows Its Bitcoin Treasury to Record Levels