PANews reported on August 15 that according to PR Newswire, Canaan Inc. announced its unaudited financial results for the second quarter ending June 30, 2024. The report showed that the revenue for the quarter was US$71.9 million, exceeding the expected US$70 million and up 104.8% from the previous quarter. Among them, mining revenue was US$9.3 million, down from US$10.5 million in the first quarter and US$15.9 million in the same period last year, mainly due to the reduction in Bitcoin mining after the halving. As of the end of the second quarter, Canaan held 1,114.2 bitcoins, a record high.