Los ingresos de Canaán fueron de $ 68 millones en 2020
The Chinese manufacturer of mining equipment, Canaan, announced the results of the previous reporting year. Revenue of the company was more than $68 mln, of which $5.9 mln was received for the fourth quarter
Sales fell 37.1 percent. Despite this, profits have increased. Largely due to the reduction of losses, marketing and administrative expenses (by 62.1% up to $20.2 mln).
Gross profit was 5.8 million. Also in 2020 decreased net loss. It was $33 million, and in 2019 that figure was $148 million.
Recall that the company is considered the leading manufacturer of ASIC miners in the world. The products are produced under the Avalon brand and are in high demand on the market.
Canaan is constantly expanding its customer base and has received a large number of pre-orders. This gives confidence that the results of this year will lead it out of a protracted crisis.
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The article has an informational character, reflects the opinion of the author. Before you make a decision, analyze the market situation.