Canaan nets record bitcoin miner sales with $167 million in Q2

Canaan nets record bitcoin miner sales with $167 million in Q2

Canaan nets record bitcoin miner sales with $167 million in Q2 September 15, 2021, 6:30AM EDT · 1 min read Bitcoin mining hardware manufacturer Canaan has realized a record quarterly revenue of $167 million for Q2 this year. The firm said in an earnings report Wednesday that it sold 5.9 million terahashes per second (TH/s) of hashing power during the quarter, which means each TH/s of its Avalon equipment was priced at around $32. That amount of hash rate accounts for about 4% of the bitcoin network's total current hashing power. Canaan said that this marks the "strongest quarterly sales in the company’s operating history," which is up five times year-on-year and more than 1.5 times over the first quarter. After taking out the cost of goods sold that was …
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