Canaan’s shares on Nasdaq closed 3.83% lower at US$2.51 on Wednesday after the cryptocurrency mining rig maker reported an 82% year-on-year drop in revenue on Tuesday for the fourth quarter of last year. The company cited “lackluster market demand” for mining machines as the price of Bitcoin fell.
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Crypto Mining Rig Maker Canaan Shares Slump After Q4 Revenue Sank 82%
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