Bitcoin (BTC) mining device manufacturer Canaan announced its third quarter 2023 balance sheet.
Canaan 28 November on About the third quarter of 2023 shared its financial balance sheet. The company’s revenue for the third quarter $33,319 million while stating that 150Thash/sec Orders for new A14 series mining machines with processing power 2 million TH He emphasized that he overcame it.
in November in Kazakhstan mining license By recording its acquisitions, Canaan has become positioned in one of the world’s leading countries in mining.
Although it stood out by making profits from mining device sales, the company’s income from Bitcoin mining decreased. Mining revenue according to data $3.3 million While it happens as 2023in the second quarter of for $15.9 million compared to 79.5% and in the same period in 2022 for $9.2 million compared to a decrease of 64.6% lived.
Canaan Chairman of the Board of Directors, who made a statement in parallel with the third quarter report Nangeng ZhangHe emphasized that although the year 2023 was full of difficulties, they achieved their goals:
In the third quarter of 2023, the stagnant Bitcoin price and the further increase in interest rates by the US Federal Reserve (FED) have left us facing significant challenges. Despite these challenges, we stuck to our strategic plan. In mid-September, we launched and started pre-sales of our new A14 product series, which has a processing power of 150Thash/sec with superior energy efficiency of 21J/Thash/sec. In addition to positive customer feedback on our new products, we sold total processing power of 3.8 million Thash/s, an increase of 8.6% compared to the previous year. This growth was the driving force behind our total revenue for the quarter, which reached $33.3 million, exceeding our expectations.
Bitcoin’s next halving less than 6 months Meanwhile, these steps taken by mining companies were interpreted as serious preparations.