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The company reported $31.9M in revenue, down from $62.7M in Q1, while its operating loss reached $69.5M.
A significant part of the loss included $25.3M in inventory, prepayment and purchase-commitment related charges.
The numbers show how weaker mining economics and market conditions can impact Bitcoin infrastructure companies.
For investors, Canaan’s results are another reminder that crypto-related businesses remain highly sensitive to market cycles and mining conditions.
#GateGloballyLaunchesStockEventContracts $BTC