Hahaha, after so many years of holding onto the dead stock of Canaan Technology, it has finally迎来了春天! The revenue for the third quarter increased by 120.9% year-on-year.

Canaan Technology today released its unaudited financial performance report for the period ending September 30, 2024. The revenue for the third quarter of 2024 was $73.61 million, a significant increase compared to $71.86 million in the second quarter of 2024 and $33.32 million in the same quarter of 2023. Total revenue includes product revenue of $64.58 million, mining revenue of $8.96 million, and other income of $65,000.

Mining Revenue: The mining revenue for the third quarter of 2024 was $8.96 million, which remained relatively stable compared to $9.31 million in the second quarter of 2024, and showed significant growth compared to $3.26 million in the same quarter of 2023. The year-on-year growth is mainly due to the increase in mining computing power.

As of September 30, 2024, the company held a total of 1,231.3 bitcoins, with a fair value of cryptocurrency assets and cryptocurrency receivables totaling $79.02 million.