“We balance our machine usage through mining, and our mining operation serves as a powerful support and supplement to mining machine sales,” Canaan told Cointelegraph.
Cryptocurrency mining giant Canaan continues to generate significant revenues from crypto operations despite the ongoing crypto mining crisis.
Canaan’s 2022 annual revenues would still be significantly bigger than in previous years, surging nearly 90% from 448 million RMB in 2020. In 2019, Canaan’s annual revenue amounted to 1.4 billion RMB .Canaan’s financial success over the past few years comes after the company launched its own mining operations, expanding services beyond manufacturing crypto mining devices.
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