TechFlow news, on March 26, according to PR Newswire, Bitcoin mining equipment manufacturer Canaan Inc. (Nasdaq: CAN) announced its unaudited financial results for the fourth quarter and full year of 2024.
Total revenue for the fourth quarter reached $88.8 million, exceeding expectations and representing an 80.9% year-on-year increase; total computing power sold hit a record high of 9.1 million TH/s, up 65.9% year-on-year; Bitcoin mining revenue amounted to $15.3 million, a 312.5% year-on-year increase, during which the company mined a total of 186 Bitcoins, with an average revenue of $82,174 per Bitcoin.
For the full year 2024, total revenue was $269.3 million, up 27.4% compared to $211.5 million in 2023. Mining revenue was $44 million, up 29.6% compared to $34 million in 2023.
