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Canaan Inc – ADR (NASDAQ: CAN) shares are buying and selling greater after the corporate reported fourth-quarter ADS and gross sales outcomes have been greater year-over-year and issued steerage.
Canaan reported quarterly earnings of $1.84 per share. The corporate additionally reported $342.80 million in gross sales this quarter, representing a marked enhance over gross sales of $5.86 million the identical interval final yr.
Canaan says whole computing energy offered was 7.7 million Thash/s, in comparison with 0.2 million Thash/s in the identical interval of 2020, and up 15.5% from 6.7 million Thash/s within the third quarter of 2021, setting a brand new document. Canaan says sequential will increase have been primarily pushed by the stable market demand and the responsive supply of Bitcoin (CRYPTO: BTC) mining machines.
See Additionally: Canaan Revenue Jumps 57 Times In Q4 Backed By Computing Power Sales; Issues Robust Outlook
Canaan is a developer of supercomputing chips and the producer of digital blockchain computing gear in addition to the provider of the general scheme for pc software program and {hardware} of digital blockchain.
Canaan has a 52-week excessive of $39.10 and a 52-week low of $3.50.
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