slight improvements in some of its financial metrics in the first quarter of 2023. The progress, however, is still far behind where it was last year in this period.
to Investopedia, an ADS is an equity share in a non-U.S. company held by a United States depositary bank and available for purchase by investors.and associated drop in earnings. Canaan’s chief financial officer James Cheng in the report, claiming the revenue results “fell short” of expectations.A revenue breakdown shows $44.1 million coming from products revenue and $11.1 million from mining activities, as well as $300,000 in other revenues. Income generated from mining activities rose 3.3% from $10.7 million in the fourth quarter of 2022 and represents a 130.2% increase from $4.8 million during the same period of 2022.