According to Foresight News, Canaan Technology announced its second quarter financial report for 2023, with total revenue of US$73.9 million (approximately RMB 536 million), a month-on-month increase of 33.7%. The total sales computing power was 6.1 million TH/s, a month-on-month increase of 44.2%.
The financial report shows that Canaan Technology's mining machine sales revenue and mining revenue have improved significantly month-on-month. Mining machine sales revenue increased from US$43.7 million in the first quarter of 2023 to US$57.8 million, a month-on-month increase of 32.2%. Mining revenue increased from US$11.1 million in the first quarter of 2023 to US$15.9 million, a month-on-month increase of 43.3%.
In terms of mining business, Canaan Technology generated 569 bitcoins in the second quarter of 2023, accounting for mining revenue of US$15.9 million, a month-on-month increase of 43.3%. As of June 30, 2023, the company's cash and cash equivalents were US$66.1 million; as of March 31, 2023, cash and cash equivalents were US$72 million.