“The bitcoin mining market deteriorated through the third quarter, because the bitcoin worth fluctuated and additional dipped to round sixteen thousand {dollars} just lately,” CEO Nangeng Zhang stated within the assertion. “The detrimental market dynamics have considerably hindered bitcoin miners’ revenues and money flows. As miners are compelled to chop their demand for computing energy, we needed to regulate down our promoting worth in response.”
Canaan Q3 Web Earnings Drops 88% as Bitcoin Mining Declines
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