Overview
- Q4 revenue reached $196.3 million, up 121.1% year over year, marking the company’s strongest quarter in three years on hardware and mining gains.
- Canaan posted a loss of $0.89 per share, missing estimates by $0.88, and the stock traded around $0.56 after the report.
- Computing power shipments hit a quarterly record of 14.6 EH/s, boosted by a milestone order from a U.S.-based institutional miner whose identity was not disclosed.
- Installed hashrate climbed to 9.91 EH/s with 7.65 EH/s operational, while Bitcoin mining revenue rose 98.5% to $30.4 million.
- The company must lift its share price to at least $1 for 10 consecutive trading days by July 13 to avoid potential Nasdaq delisting.