{"id":75174,"date":"2023-03-07T17:02:44","date_gmt":"2023-03-07T15:02:44","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75174"},"modified":"2025-09-10T10:09:50","modified_gmt":"2025-09-10T07:09:50","slug":"canaans-fourth-quarter-2022-revenue-falls-60","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/canaans-fourth-quarter-2022-revenue-falls-60\/","title":{"rendered":"Canaan\u2019s fourth-quarter 2022 revenue falls 60%"},"content":{"rendered":"<p>In the fourth quarter of 2022, Canaan&#8217;s revenue as a Bitcoin miner amounted to $56.8 million, down 59.9% from the prior reporting period.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Canaan Inc. Reports Unaudited Fourth Quarter and Full Year 2022 Financial Results<a href=\"https:\/\/twitter.com\/hashtag\/Canaan?src=hash&#038;ref_src=twsrc%5Etfw\">#Canaan<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/Mining?src=hash&#038;ref_src=twsrc%5Etfw\">#Mining<\/a> <\/p>\n<p>Learn More: <a href=\"https:\/\/t.co\/Eccj5RpAcw\">https:\/\/t.co\/Eccj5RpAcw<\/a> <a href=\"https:\/\/t.co\/w1zJHDfXNE\">pic.twitter.com\/w1zJHDfXNE<\/a><\/p>\n<p>\u2014 Canaan Inc. (@canaanio) <a href=\"https:\/\/twitter.com\/canaanio\/status\/1633056687459545088?ref_src=twsrc%5Etfw\">March 7, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The firm&#8217;s annual revenue was $634.9 million, down 12.2% from 2021.<\/p>\n<p>In Q4, the manufacturer sold equipment with a total hashrate of 1.9 million TH\/s. This was 45.8% lower than in Q3 and 82.1% lower than in the same period in 2021.<\/p>\n<p>Canaan&#8217;s mining revenue in Q4 was $10.5 million. This was up 16.3% from the previous quarter and 368.2% higher than the same period in 2021.<\/p>\n<p>Total revenue from Bitcoin mining in 2022 was $31.7 million.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWe endured a difficult fourth quarter, as the fall in Bitcoin&#8217;s price during that period led to weaker market demand for mining equipment, as we anticipated,\u201d said Nangeng Zhang, chairman and CEO of Canaan.<\/p>\n<\/blockquote>\n<p>Shares fell 8.39% to $2.51 after the report was released.<\/p>\n<figure class=\"wp-block-image size-full is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/image1-567.webp\" alt=\"image1-567\" class=\"wp-image-199901\" width=\"693\" height=\"425\"\/><figcaption>Data: <a href=\"https:\/\/www.google.com\/finance\/quote\/CAN:NASDAQ\">Google Finance<\/a>.<\/figcaption><\/figure>\n<p>Earlier in March, the Riot <a href=\"https:\/\/forklog.com\/en\/news\/riot-reports-259-million-in-revenue-for-2022\">reported<\/a> revenue of $259.2 million for 2022. In total, the firm mined 5,554 BTC.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canaan&#8217;s revenue in Q4 2022 was $56.8 million, down 59.9% from the prior quarter.<\/p>\n","protected":false},"author":1,"featured_media":75175,"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-75174","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":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75174","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=75174"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75174\/revisions"}],"predecessor-version":[{"id":75176,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/75174\/revisions\/75176"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/75175"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=75174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=75174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=75174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}