Bitcoin Miner Maker Canaan Lost $148M in 2019
The Chinese bitcoin miner manufacturer has disclosed it made a net loss of $148.6 million for 2019 on a revenue of $204.3 million.
Mining hardware manufacturer Canaan Creative reported a Q3 net loss that is more than quadruple its Q2 loss.
The Nasdaq-listed mining manufacturer dropped 2% in Q3.
Mining companies are soaring as bitcoin hits record highs.
Canaan shares are down 23% in August.
Shares of Canaan Creative, one of the few publicly traded crypto miner manufacturers, fell below $2 Monday, their lowest after going public last year.