Canaan Takes A Double Hit Amid Crypto Pain
The cryptocurrency mining machine maker’s revenue plunged and its net loss ballooned in the second quarter as its product sales and mining income both tumbled image credit: Bamboo Works Key
Canaan sells machines that mine cryptocurrency, and both sales and profits fell hard. When crypto is struggling, mining companies hurt because fewer people want their gear.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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