Canaan Revenue Jumps 121% — But Stock Still Slides

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Crypto miner and hardware manufacturer Canaan reported a massive 121.1% year-on-year revenue increase in Q4, reaching $196.3 million — its strongest quarterly performance in three years. The surge was fueled by record Bitcoin mining machine sales and improved mining output, including shipments of 14.6 exahashes per second (EH/s) of computing power.

Bitcoin mining revenue alone climbed 98.5% to $30.4 million, while the company boosted its treasury holdings to 1,750 BTC and 3,950 ETH. Despite these strong fundamentals, Canaan’s stock fell 6.9% on Tuesday, showing that market sentiment toward crypto miners remains cautious even amid improving operational results.

[johnblockbuster]

121% yoy revenue growth and record btc mining output is huge, but market still pricing in cautious sentiment