Bitcoin miner Canaan scales operations despite low earnings, CEO says

📆 2022/11/14 21:01:00
📰 Cointelegraph

⏱ Reading Time:
18 sec. here
2 min. at publisher
📊 Quality Score:
News: 10%
Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

When there’s a bear market, it’s time to build. Chinese crypto mining firm Canaan will continue to expand operations despite the ongoing market downturn and an associated drop in earnings. (Reporting via coindanslecoin)

due to the crypto winter, Canaan’s mining devices have also experienced a significant decline in demand. According to the latest financials, Canaan sold a total 3.5 million terahashes per second of computing power in Q3, or 37% less than in the previous quarter.

“As part of our ongoing effort to strengthen our research and development capabilities, we are expanding our Singapore headquarters with promising local research and development talents to help support our business on a global scale,” Zhang noted.that Canaan has been expanding its mining business in the United States this year, adding:

Write Comment

coindanslecoin always building 🛠️

coindanslecoin Yes indeed!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin, Ethereum Technical Analysis: BTC Rebounds Following Bullish Comments From Elon Musk – Market Updates Bitcoin NewsBTC started the week trading below $17,000, as volatility in the cryptocurrency space continued to intensify. OK 👌 Ok, I only listen to ChiefraFba for signals! Ok cool, I have recently started using ChiefraFba for signals, his accuracy is INSANE!
Source: BTCTN - 🏆 531. / 51 Read more »