Canaan Shivers as Crypto Winter Chills Demand for Mining Machines
The company’s third-quarter profit dropped nearly 90% as plunging cryptocurrency prices squashed demand for its productsKey Takeaways:Canaan’s third-quarter revenue and profit dropped 26% and 90%, respectively, as a downturn in…
Latest Bitcoin Meltdown Pressures Chinese Crypto Companies
The recent massive selloffs in bitcoin and other crypto currencies have left Ebang, Canaan and BIT Mining coping with tanking share prices and dire business outlooks Key Takeaways: Ebang, a…
Covid Bites Canaan in First Quarter, But Advance Orders Bode Well for Second
Leading crypto mining machine maker aims to ride the recent bitcoin slump by allocating more resources to its own mining Key Takeaways Canaan’s first-quarter sales more than tripled, but Covid-related…
Ebang’s Australia Progress Excites – or Not – or Maybe, as Bitcoin Gyrates
Company’s shares jumped 14% after it disclosed receiving regulatory approval for a digital currency exchange in Australia, but then fell, only to jump again in next two trading days Key…
Canaan Turns to Bitcoin Mining Even as Crypto Hunters Face Mounting Challenges
The crypto mining machine manufacturer added mining to its portfolio after revenue from its main business dropped for two consecutive years Key takeaways: • Canaan has entered the bitcoin mining…
Cryptocurrency Wannabe Ebang Mines Investors for Funds with Talk of Transformation
Mining machine manufacturer moves into exchange operation and mining business in bid to pump up modest revenue base Major takeaways: Ebang is a company trying to transform from a minor…
