TechFlow news, November 18 — According to Canaan Inc., the company has released its unaudited financial results for the third quarter of 2025. Total revenue reached $150.5 million, a year-on-year increase of 104.4% and a sequential increase of 50.2%.
Bitcoin mining revenue amounted to $30.6 million, up 241.0% year-on-year; product sales revenue was $118.6 million. During the third quarter, the company mined 267 bitcoins, with an average revenue of $114,485 per bitcoin. Gross profit was $16.6 million compared to a gross loss of $21.5 million in the same period last year.
As of the end of October, the company’s cryptocurrency holdings reached a milestone of 1,610 BTC and 3,950 ETH.
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