Canaan sees Q2 revenue $100M

The company said, “In light of the recent developments surrounding the U.S. government’s newly imposed tariff measures, which have introduced substantial uncertainty into the bitcoin mining industry and impacted the operational plans of mining players in the region, the Company’s management has decided to withdraw its previously issued full-year 2025 revenue guidance. For the second quarter of 2025, the Company currently expects total revenues to be approximately US$100 million, reflecting the near-term market conditions and evolving customer dynamics, which are subject to change. The Company will continue to closely monitor the global policy environment and market developments, and may revise or update its outlook as appropriate, based on future clarity and business visibility.”