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Canaan

Stronghold Digital Mining CEO Greg Beard (right) and co-Chairman Bill Spence. (Stronghold Digital Mining)
Finance
Stronghold digital
Stronghold Digital to Add 400 PH/s Capacity Via 4K Bitcoin Miners From Canaan Subsidiary
The machines will be installed in two tranches, one my mid-May and the second by mid-June.
Stronghold Digital Mining CEO Greg Beard (right) and co-Chairman Bill Spence. (Stronghold Digital Mining)
By Jamie Crawley
May 4, 2023 at 2:33 p.m. UTC
May 4, 2023
Stronghold DigitalCanaanBitcoin MiningMining
Nangeng Zhang, CEO of Canaan Creative (Nangeng Zhang)
Finance
Canaan
Crypto Mining Rig Maker Canaan's Q4 Revenue Sunk 82% to $56.8M
The firm reported Q4 net loss per ADS of 38 cents compared to $1 for the same period in 2021.
Nangeng Zhang, CEO of Canaan Creative (Nangeng Zhang)
By Eliza Gkritsi
Mar 7, 2023 at 11:37 a.m. UTC
Mar 7, 2023
Canaanmining rigBitcoin MiningEarnings
Canaan reported an 88% decline in third-quarter net income (Christie Harkin/CoinDesk)
Finance
Canaan
Canaan Q3 Net Income Drops 88% as Bitcoin Mining Declines
Negative market dynamics have caused a reduction in net income, revenue and computing power sold in the third quarter of this year.
Canaan reported an 88% decline in third-quarter net income (Christie Harkin/CoinDesk)
By Oliver Knight
Nov 14, 2022 at 10:44 a.m. UTC
Nov 14, 2022
CanaanBitcoin MiningMining
Crypto.com Reportedly Reduces Workforce Since Initial Layoff Announcement; Canaan Sees 'Prolonged Headwinds' After Challenging Quarter
Video
Cdtv
Crypto.com Reportedly Reduces Workforce Since Initial Layoff Announcement; Canaan Sees ‘Prolonged Headwinds’ After Challenging Quarter
Crypto exchange Crypto.com has laid off hundreds more employees since the initial layoffs in June, according to The Verge. Bitcoin mining rig maker Canaan said tougher market...
Crypto.com Reportedly Reduces Workforce Since Initial Layoff Announcement; Canaan Sees 'Prolonged Headwinds' After Challenging Quarter
By CoinDesk Staff
Aug 18, 2022 at 8:37 p.m. UTC
Aug 18, 2022
cdtvaab clipCrypto.comCanaanStronghold DigitalThe VergeCowenStephen Glagola
Mining rigs (Fran Velasquez/CoinDesk)
Finance
Canaan
Bitcoin Mining Rig Maker Canaan Sees 'Prolonged Headwinds' After Challenging Quarter
CEO Nangeng Zhang cited a slumping bitcoin price and COVID-19 lockdowns in China.
Mining rigs (Fran Velasquez/CoinDesk)
By Jamie Crawley
Aug 18, 2022 at 10:42 a.m. UTC
Aug 18, 2022
CanaanMiningChinaEarningsBitcoin
Canaan SVP Edward Lu with the Avalon 1266 model at Bitcoin 2022 conference. (CoinDesk)
Markets
Canaan
Benchmark Sees Canaan as Indirect Investment in Bitcoin, Shares Gain
The broker initiated coverage of the mining-equipment business' stock with a buy rating and $9 price target.
Canaan SVP Edward Lu with the Avalon 1266 model at Bitcoin 2022 conference. (CoinDesk)
By Will Canny
Jun 8, 2022 at 2:27 p.m. UTC
Jun 8, 2022
CanaanChina
Canaan published its first-quarter earnings report. (Sandali Handagama/CoinDesk)
Finance
Canaan
Mining-Rig Maker Canaan Q1 Revenue More Than Triples
Canaan shares climbed after first-quarter earnings beat one analyst's estimates.
Canaan published its first-quarter earnings report. (Sandali Handagama/CoinDesk)
By Oliver KnightEliza Gkritsi
May 19, 2022 at 11:33 a.m. UTC
May 19, 2022
CanaanEarningsMining
Canaan's new Avalon 1266 model at the Bitcoin 2022 conference. (Aoyon Ashraf/CoinDesk)
Finance
Canaan
Canaan Unveils Bitcoin Mining Machine, Sees Speedier ASIC Market Growth
The new model’s mining power and efficiency positions it between rival Bitmain’s S19 and S19 Pro machines.
Canaan's new Avalon 1266 model at the Bitcoin 2022 conference. (Aoyon Ashraf/CoinDesk)
By Aoyon Ashraf
Apr 8, 2022 at 4:30 p.m. UTC
Apr 8, 2022
CanaanBitcoin MinerBitcoin MiningASICASICsIntel
Ukraine Legalizes Crypto; Korea’s Crypto Policy Ideas
Video
China
Ukraine Legalizes Crypto; Korea’s Crypto Policy Ideas
Ukraine’s President Zelenskyy signs digital assets bill into law. China’s Canaan to buy back up to $100M shares to drive value. Korea’s digital asset experts set out ideas for...
Ukraine Legalizes Crypto; Korea’s Crypto Policy Ideas
By CoinDesk Staff
Mar 17, 2022 at 3:13 p.m. UTC
Mar 17, 2022
ChinacdtvFM ClipDailyForkUkraineCanaanSouth Korea
Canaan Bitcoin Mining Rig (Getty Images)
Finance
Canaan
Canaan Shares Surge as Company Authorizes up to $100M Buyback Program
The mining-rig computer maker says its new plan shows its confidence in the company’s long-term prospects.
Canaan Bitcoin Mining Rig (Getty Images)
By Aoyon Ashraf
Mar 16, 2022 at 2:13 p.m. UTC
Mar 16, 2022
CanaanBitcoin Mining