Canaan (CAN) has released an update.
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Canaan Inc. reported a significant boost in its third-quarter 2024 revenue, reaching $73.6 million, marking a 120.9% increase compared to the previous year. Despite challenging market conditions and soft Bitcoin prices, the company sold 7.3 million Thash/s of computing power, driven by the success of its A14 and A15 series models. This growth underscores Canaan’s strategic execution and solidifies its position in the high-performance computing solutions market.
For further insights into CAN stock, check out TipRanks’ Stock Analysis page.
