Every Zipp story tagged #Canaan, newest first.
More than half of Canaan's Bitcoin was already pledged for loans at midyear, and product revenue collapsed to $13.6M from $42.9M in a single quarter.
Lower network difficulty did not soften the hit: CleanSpark and BitFuFu logged month-on-month production declines, while Canaan used the window to push its BTC treasury to a record.
Canaan's pivot to holding its mined BTC and ETH is becoming the story — the treasury is now worth roughly the same as the company's Q1 revenue run-rate, and the gap is closing fast.
Canaan, one of the largest Bitcoin mining hardware manufacturers, posted an $88.7 million net loss for the first…
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