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Bitcoin mining rig manufacturer Canaan posted net loss, CEO cites Covid-19 and BTC halving

Bitcoin mining rig manufacturer Canaan posted net loss, CEO cites Covid-19 and BTC halving

Canaan Inc, a leading Chinese Bitcoin mining hardware manufacturer published its unaudited second quarter (2020) financial results. As per the report, the company’s gross profit increased year over year and quarter over quarter, but Canaan still suffered a net loss. However, the firm’s gross margin expanded significantly last year as well as in the first quarter of 2020.








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