Canaan Q3 revenue plummeted 90% year-on-year to $14.5 million

Odaily Planet Daily News: Bitcoin miner manufacturer Canaan reported a 90% year-on-year decline in third-quarter revenue to $14.5 million, with equipment revenue down 96% year-on-year. Despite recording an operating loss of $42.9 million, the company achieved a net profit of $8 million, driven by fair value gains of approximately $52 million from cryptocurrencies and derivatives. (The Block)