2 years ago
Hangzhou-based Canaan, 1 of the industry's largest manufacturers of crypto mining machines, is up 16% successful premarket enactment after reporting a 60% increase successful gross to $342.8M successful the 4th quarter.
The institution had antecedently guided for sequential gross to emergence successful the 35-50% range.
“The higher-than-expected topline effect was powered by our concern improvement efforts, which drove the maturation of our lawsuit base, enabling america to execute a larger proportionality of spot income with a higher averaging selling price,” said CFO Jin Cheng.
The company’s full computing powerfulness sold was 7.7 cardinal TH/s successful the 4th quarter, up astir 15% from 6.7 cardinal TH/s previously..
Canaan expects its full nett revenues for the archetypal 4th of 2022 to beryllium higher by 275-300% year-over-year to RMB1,500 million-RMB1,600 million.
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Aoyon Ashraf is crypto mining newsman with much than a decennary of acquisition successful covering equity markets
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