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Bitcoin Mining Hardware Maker Reports $148M Net Loss in 2019


Bitcoin Mining Hardware Maker Reports $148M Net Loss in 2019

Nasdaq-listed Bitcoin mining equipment manufacturer, Canaan, reported a net loss of $148 million for 2019, according to the latest financial results filed with the Securities and Exchange Commission (SEC). The latest unaudited Q4 and 2019 financial results from the China-based company said that its total 2019 net revenue was $204.3 million. This represents approximately half of the $384 million the company generated in 2018.

Total net revenue increased in Q4 2019

In the same quarter, the company’s total net revenue increased by 66.8%, representing $66.5 million. This was more than half of what it had generated in the same period in 2018. Read More...