Canaan Lost $148.6 Million in 2019
Canaan total revenue in 2019 was almost half as much as in 2018 —$204.3M, the mining company told the SEC. The loss for 2019 was $148M.
The decrease is surprising since in 2019 Canaan sold 47.1% more computing power compared to 2018. It was also listed on Nasdaq in November 2019.
In February 2020, Canaan shares rose by 80% in a single day, but the price soon fell to its minimum after the company was sued for misleading investors during the IPO.