Bitcoin miner Canaan posts $88.7M net loss in Q1 amid BTC decline

Bitcoin miner Canaan posts $88.7M net loss in Q1 amid BTC decline

Bitcoin miner Canaan posts $88.7M net loss in Q1 amid BTC decline

Canaan’s Q1 results were dragged down by a $25 million inventory write-down and a 75% quarterly drop in equipment sales as Bitcoin prices retreated from their highs.

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