Canaan’s Q3 Revenue Doubles, Shares Surge

[cryptobro]

Bitcoin mining hardware maker Canaan saw its shares jump nearly 21% on Tuesday after reporting that Q3 revenue doubled year-over-year to $150.5 million. The company credited a surge in new orders, especially from U.S. clients, who accounted for 31% of total revenue.
Mining equipment sales made up the bulk at $118.6 million, reflecting a strong rebound in demand across the sector.