Canaan (CAN) Swings to an $8 Million Profit on Bitcoin Gains as Rig Sales Collapse 96%

Bitcoin Magazine Canaan (CAN) Swings to an $8 Million Profit on Bitcoin Gains as Rig Sales Collapse 96% Canaan's mining-machine sales fell to $4.8 million from $118.6 million a year earlier, but a $51.9 million fair-value gain turned an operating loss into $8.0 million of net income. This post Canaan (CAN) Swings to an $8 Million Profit on Bitcoin Gains as Rig Sales Collapse 96% first appeared on Bitcoin Magazine and is written by Micah Zimmerman.