Canaan's revenue in the third quarter of 2023 is US$33.3 million and holds 860 Bitcoins

Canaan recently announced its unaudited financial results for the three months ended September 30, 2023. As of September 30, 2023, the company owned 860 Bitcoins, reaching an all-time high. Revenue in the third quarter of 2023 was $33.3 million, including $29.9 million in product revenue, $3.3 million in mining revenue and other revenue of $118,000, compared with $57.9 million in product revenue in the second quarter of 2023. The decrease compared to the second quarter of 2023 was primarily due to a decrease in total hashrate sold and sales price, which was due to overall softer market demand.