According to Wu, Canaan Inc. released its unaudited financial report for Q2 2024, with revenue reaching US$71.9 million, a month-on-month increase of 104.8%, exceeding previous expectations.
Although the operating loss was still $46.6 million, it narrowed by 60.9% year-on-year. In this quarter, Canaan's total computing power sales reached 6.2 million TH/s, an increase of 83.9% from the previous quarter.
Strong sales of new products A14 and A1566 drove the overall performance. Canaan said significant growth in North America and the Middle East provides a solid foundation for future growth, and forecast third-quarter revenue of $73 million.
