Bitcoin miner Canaan’s web loss barely improved in Q1 amid market turbulence

Chinese language mining firm Canaan reported slight enhancements in a few of its monetary metrics within the first quarter of 2023. The progress, nonetheless, continues to be far behind the place it was final yr on this interval.

Based on an unaudited report posted on its investor relations web page, Canaan’s web loss was $84.4 million in Q1, decrease than its $91.6 million web loss within the earlier quarter. The online loss represents a serious reversal in comparison with the identical interval in 2022, when the agency reported a web revenue of $65.1 million.

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