Canaan Technology announces third quarter financial report for 2024, with revenue increasing by 120.9% year-on-year
Jianan Technology released its unaudited financial performance report as of September 30, 2024. The third quarter of 2024 saw a significant increase in revenue compared to the second quarter of 2024 and the same quarter of 2023, with revenue reaching $73.61 million. Total revenue includes $64.58 million in product revenue, $8.96 million in mining revenue, and $65,000 in other revenue.
Mining revenue: In the third quarter of 2024, mining revenue was $8.96 million, which was almost the same as the second quarter of 2024 but significantly higher than the same quarter of 2023, mainly due to an increase in mining computing power.
As of September 30, 2024, the company held 1,231.3 bitcoins, with a fair value of $79.02 million for its holdings in cryptocurrency assets and cryptocurrency receivables.
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