- Canaan saw a 368.2% increase in mining income, to the tune of $10.46 million.
- The firm’s net income shifted to a loss of $63.6 million in Q4 2022.
ស្រុកកាណាន, a Chinese Bitcoin miner, and producer of application-specific integrated circuit (ASIC) mining devices, reported an annual decline in revenue of 82.1% to $56.8 million in its most recent filing with the United States Securities and Exchange Commission (គណៈកម្មាធិការមូលបត្រ) ថ្ងៃទី ៩ ខែមីនា។
In Q1 2022, Canaan reported a decrease in Bitcoin mining computing power sales of 75.8 percent from Q4 2021 due to reduced ASIC costs. This equates to 1.9 million terahashes per second. While this was going on, Canaan saw a 368.2% increase in mining income, to the tune of $10.46 million.
Net Loss of $63.6 Million
Canaan’s net income shifted to a loss of $63.6 million in Q4 2022 from a profit of $182.0 million in Q4 2021 despite the strength of the division. According to Canaan’s CFO Jin Cheng, the company’s loss was caused by the following factors: inventory write-downs; research and development costs associated with the development of the company’s new line of ASICs.
Canaan’s chairman and CEO, Nangeng Zhang stated:
“ដើម្បីកាត់បន្ថយហានិភ័យនៃតម្រូវការក្នុងអំឡុងពេលទីផ្សារធ្លាក់ចុះ យើងបាននិងកំពុងព្យាយាមកែលម្អ និងអភិវឌ្ឍអាជីវកម្មរុករករ៉ែរបស់យើង។ កិច្ចខិតខំប្រឹងប្រែងរបស់យើងបានផ្តល់នូវវឌ្ឍនភាពកាន់តែច្រើននៅដើមឆ្នាំ 2023 ជាមួយនឹងអត្រា 3.8 EH/s ដែលបានដំឡើងសម្រាប់ការជីកយករ៉ែគិតត្រឹមចុងខែកុម្ភៈ។ អាស្រ័យហេតុនេះ យើងបានធ្វើការវិនិយោគយ៉ាងម៉ឺងម៉ាត់ក្នុងការពង្រឹងសមត្ថភាពផលិតកម្មរបស់យើង និងពង្រីកប្រតិបត្តិការរុករករ៉ែរបស់យើងទៅកាន់តំបន់ភូមិសាស្ត្រផ្សេងៗគ្នាបន្ថែមទៀត ដែលផ្តល់នូវលក្ខខណ្ឌអំណោយផល»។
The company’s annual sales dropped by 13.8%, to $634.9 million, as a result of market circumstances in Q1 and Q2 2022. Now, the company’s assets are $706 million, while its liabilities are $67 million.
Source: https://thenewscrypto.com/bitcoin-miner-canaan-reports-82-1-revenue-decline-in-q4-2022/