Canaan Creative Q3 Revenue Plummets 90% YoY to $14.5 Million

Odaily: Bitcoin mining machine manufacturer Canaan reported a 90% year-over-year decline in third-quarter revenue to $14.5 million, with mining equipment revenue down 96% YoY. Despite recording an operating loss of $42.9 million, the company ultimately achieved a net profit of $8 million, driven by approximately $52 million in fair value gains from cryptocurrencies and derivatives. (The Block)