According to Techub News, Canaan Inc. announced its unaudited financial report for the three months ending March 31, 2024. Revenue in the first quarter of 2024 was $35.09 million, 6% higher than the previous expectation of $33 million. Mining revenue was $10.46 million, up 182.1% from the previous month. The company held more than 1,000 bitcoins for the first time, reaching a record 1,057. Net loss was $39.39 million, down 71.7% from the previous month and 53.3% from the previous year.