Based on a brand new submitting with the US Securities and Alternate Fee on March 7, Canaan, a Chinese language (BTC) miner and producer of application-specific built-in circuit (ASIC) mining machines, reported that its income decreased by 82.1% year-over-year to $56.8 million in This fall 2022. In the course of the quarter, Canaan bought 1.9 million terahashes per second value of computing energy for Bitcoin mining, not accounting for decrease ASIC costs, representing a 75.8% decline from This fall 2021.
On the identical time, Canaan’s mining income improved 368.2% year-over-year to $10.46 million. As informed by Nangeng Zhang, chairman and CEO of Canaan:
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