Bitdeer, Canaan mint hedges against crypto volatility in AI
Each company is seeking to develop businesses related to the hot emerging technology as their core crypto operations lose money Key Takeaways: Bitdeer said it was picked as a preferred…
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…
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…
FAST NEWS: Beijing Approves CMOC’s Large-Scale African Mining Project
The latest: China Molybdenum Co. Ltd. (CMOC) (3993.HK; 603993.SH) announced Tuesday that the company's plan to develop a $2.51 billion TFM copper and cobalt mixed mine in the Democratic Republic of…
Titanium Miner LB Group Seeks to Shine in Hong Kong IPO Raising up to $1.5 Billion
Producer of the white metal powder used to brighten everything from paints to food saw its profit double last year on nearly 50% revenue growth Key Takeaways: LB Group has…
BIT Mining’s Radical Shift Brings Back Revenue, But Profits Remain Elusive
Company reported a surge in fourth-quarter revenue after switching to crypto mining a year ago, but shares fell as it failed to post a profit Key takeaways: • BIT Mining’s…
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…