Data: Canaan Technology's revenue in the second quarter was $71.9 million, holding 1,133.5 bitcoins

ChainCatcher news, Canaan Inc. today announced its unaudited financial results for the three months ended June 30, 2024. Revenue for the second quarter of 2024 was $71.9 million, exceeding the previous expectation of $70 million, and grew by 104.8% compared to the previous quarter. The total computing power sold was 6.2 million Thash/s, an increase of 83.9% quarter-over-quarter. The operating loss was $46.6 million, narrowing by 60.9% compared to the same period last year, and narrowing by 31.5% compared to the previous quarter.

As of June 30, 2024, the company's cryptocurrency assets primarily included 1,133.5 bitcoins, with a total fair value of $69.9 million, which includes 584.2 bitcoins owned by the company, 530 bitcoins staked, and 19.3 bitcoins received as customer deposits. As of June 30, 2024, the company had cash of $66.8 million, compared to $96.2 million as of December 31, 2023.