TechFlow news — Bitcoin mining machine manufacturer Canaan has released its unaudited financial results for the fourth quarter and full year of 2023. In Q4 2023, the company sold computing power totaling 5.5 million Thash/s, generating revenue of $49 million, including $3.7 million from mining operations.
For the full year 2023, total sold computing power reached 19.6 million Thash/s, with annual revenue amounting to $211.5 million, including $34 million from mining income. The company achieved these results by increasing sales, expanding computing power deployment in Africa and the Middle East, and optimizing its inventory mix strategy.
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