Bitcoin Manufacturer Canaan’s Q1 2023: $55.2M Revenue But A $47.5M Loss

<a href="https://www.tronweekly.com/bitcoin-manufacturer-canaans-q1-2023-55-2m/" title="Bitcoin Manufacturer Canaan’s Q1 2023: $55.2M Revenue But A $47.5M Loss" rel="nofollow"><img width="300" height="200" src="https://ethereumreader.com/wp-content/uploads/2023/05/bitcoin-manufacturer-canaans-q1-2023-55-2m-revenue-but-a-47-5m-loss.webp" class="webfeedsFeaturedVisual wp-post-image" alt="Bitcoin" decoding="async" style="display: block; margin-bottom: 5px; clear:both;max-width: 100%;" link_thumbnail="1" srcset="https://ethereumreader.com/wp-content/uploads/2023/05/bitcoin-manufacturer-canaans-q1-2023-55-2m-revenue-but-a-47-5m-loss.webp 300w, https://ethereumreader.com/wp-content/uploads/2023/05/bitcoin-manufacturer-canaans-q1-2023-55-2m-revenue-but-a-47-5m-loss.jpg 768w, https://www.tronweekly.com/wp-content/uploads/2023/05/29125864638_4ef925aba0_c-3.jpg 800w" sizes="(max-width: 300px) 100vw, 300px" title="Bitcoin Manufacturer Canaan's Q1 2023: $55.2M Revenue But A $47.5M Loss 1"></a>Canaan, a prominent manufacturer of Bitcoin mining machines, recently disclosed its financial report for the first quarter of 2023. The report reveals that the company generated revenues of $55.2 million during this period. However, despite the positive revenue figure, Canaan experienced a gross loss of $47.5 million. To align it’s reporting currency with its operations, Canaan switched […]