Canaan Narrows Q1 Loss to $5.6 Million Amid Weakening Demand for Mining Hardware

23-May-2020

Bitcoin mining rig manufacturer Canaan Creative reported a net loss of $5.6 million for the first quarter of 2020, down from $9.5 million a year earlier. The Chinese company cut prices of its ASIC-based machines by over 50% in an effort to improve sales, but that wasn’t enough to prevent the heavy loss. Demand slumped […] The post Canaan Narrows Q1 Loss to $5.6 Million Amid Weakening Demand for Mining Hardware appeared first on Bitcoin News. read more

Jeffrey Gogo