According to Foresight News: Canaan Technology has released its financial results for the second quarter of 2023, showing a total revenue of $73.9 million (approximately RMB 536 million), a 33.7% increase compared to the first quarter of 2023. The company's total sales computing power for Q2 2023 was 6.1 million TH/s, a 44.2% increase compared to the first quarter of 2023.
The financial report indicates that both mining machine sales revenue and mining revenue have significantly improved quarter-over-quarter. Specifically, the company's mining machine sales revenue increased from $43.7 million in Q1 2023 to $57.8 million in Q2 2023, a 32.2% increase. Meanwhile, the company's mining revenue grew from $11.1 million in Q1 2023 to $15.9 million in Q2 2023, a 43.3% increase.
In terms of mining operations, Canaan Technology produced 569 Bitcoins in the second quarter of 2023, generating $15.9 million in mining revenue, a 43.3% increase quarter-over-quarter. As of June 30, 2023, the company's cash and cash equivalents amounted to $66.1 million, compared to $72 million as of March 31, 2023.