{"id":58504,"date":"2022-03-03T18:38:56","date_gmt":"2022-03-03T16:38:56","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=58504"},"modified":"2025-09-04T17:08:24","modified_gmt":"2025-09-04T14:08:24","slug":"canaan-reports-fourth-quarter-and-full-year-2021-results","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/canaan-reports-fourth-quarter-and-full-year-2021-results\/","title":{"rendered":"Canaan reports fourth-quarter and full-year 2021 results"},"content":{"rendered":"<p>The cryptocurrency mining equipment manufacturer Canaan reported revenue of $342.8 million for the fourth quarter of 2021. The figure is 67% higher than in the prior reporting period. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Canaan Inc. Reports Unaudited Fourth Quarter and Full Year 2021 Financial Results<a href=\"https:\/\/t.co\/hx4QyMRUQk\">https:\/\/t.co\/hx4QyMRUQk<\/a><\/p>\n<p>\u2014 Canaan (@canaanio) <a href=\"https:\/\/twitter.com\/canaanio\/status\/1499339632135196675?ref_src=twsrc%5Etfw\">March 3, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cGrowth higher than expected was driven by our efforts to develop the business, which helped expand the customer base. This allowed us to increase the share of spot sales at a higher average price per TH\/s,\u201d said Jin Cheng, the company\u2019s chief financial officer.<\/p>\n<\/blockquote>\n<p>In the fourth quarter, Canaan sold devices with a combined hash rate of 7.7 million TH\/s. <\/p>\n<p>The equipment maker also reported full-year 2021 results. Its revenue reached $785.5 million. By comparison, the figure for the previous year was $447.7 million.<\/p>\n<p>Over the 12 months the company sold miners with a total hash rate of 22.3 million TH\/s. As of December 31, 2021, it held $421.2 million in cash and cash equivalents.<\/p>\n<p>Following the positive report, Canaan&#8217;s stock rose about 16% in pre-market trading, but after the market opened the price corrected. At the time of writing, the company&#8217;s shares traded near $6.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"490\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/CAN_2022-03-03_18-31-46-1024x490.png\" alt=\"Canaan \u043e\u0431\u044a\u044f\u0432\u0438\u043b \u0444\u0438\u043d\u0430\u043d\u0441\u043e\u0432\u044b\u0435 \u0440\u0435\u0437\u0443\u043b\u044c\u0442\u0430\u0442\u044b \u0437\u0430 IV \u043a\u0432\u0430\u0440\u0442\u0430\u043b \u0438 \u0432\u0435\u0441\u044c 2021 \u0433\u043e\u0434\" class=\"wp-image-166873\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/CAN_2022-03-03_18-31-46-1024x490.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/CAN_2022-03-03_18-31-46-300x144.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/CAN_2022-03-03_18-31-46-768x368.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/CAN_2022-03-03_18-31-46-1536x735.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/CAN_2022-03-03_18-31-46.png 1834w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Hourly CAN\/USD chart on the Nasdaq stock exchange. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/NASDAQ-CAN\/\">TradingView<\/a>. <br \/><\/figcaption><\/figure>\n<p>Recall, in November 2021, Canaan o<a href=\"https:\/\/forklog.com\/en\/news\/canaan-delivers-2000-avalon-bitcoin-miners-to-kazakhstan\">reported deliveries to Kazakhstan of a batch of 2,000 Avalon-model Bitcoin miners<\/a> model Avalon.<\/p>\n<p>Read ForkLog&#8217;s bitcoin news on our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency mining equipment manufacturer Canaan reported revenue of $342.8 million for the fourth quarter of 2021. The figure is 67% higher than in the prior reporting period.<\/p>\n","protected":false},"author":1,"featured_media":58505,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[845,1137],"class_list":["post-58504","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-canaan","tag-cryptocurrency-mining"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=58504"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58504\/revisions"}],"predecessor-version":[{"id":58506,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58504\/revisions\/58506"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/58505"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=58504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=58504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=58504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}