Mining hardware manufacturer Canaan Creative reported a Q3 net loss of $12.7 million, or 54 cents per share, more than quadruple the size of Q2’s $2.38 million loss, or 10 cents per share. Canaan Creative, found online at Canaan.io, is a Blockchain server producer and ASIC microprocessor designer. URL: https://www.canaan-creative.com; Investor Relations URL: N/A; HQ State/Province: N/A; Sector: Technology; Industry: Computer Hardware; Equity Style: N/A; Next Earnings Release: May. Canaan Inc. Mr. Shaoke Li Email: IR@canaan-creative.com. Additionally, the company made heavy cuts in its expenses in research and developments, and sales and marketing. In 2016, Canaan successfully initiated the production of its first 16nm chip and passed China's national high-tech enterprise certification. Established in 2013, Canaan Inc. provides high-performance computing solutions, solving complex problems efficiently. Canaan Inc ADR (CAN) Recent Earnings. Any recent news is not provided as the reason for the rise and fall of CAN stock. income with NiceHash 2.64 USD / Day START MINING WITH NICEHASH *Please note that values are only estimations based on past performance - real values can be lower or higher. Looking Forward to Meeting You at iFX EXPO Dubai May 2021 – Making It Happen! “Due to supply chain disruptions, as the price of Bitcoin rallied in late 2020, we experienced a surge of demand for high-quality mining machines both in and outside of China,” Canaan’s Chief Financial Officer, Tong He said. Canaan Creative (NASDAQ: CAN) Zoom Video Communications Inc. ... Current estimates suggest that Broadcom will report an earnings per share of … Canaan is a computer hardware manufacturing company based in China. Zhang, Canaan specializes in Blockchain servers and ASIC microprocessor solutions for use in bitcoin mining. This field is for validation purposes and should be left unchanged. Sponsored Adr CAN investment & stock information. 12, 2021; Next Ex-Dividend Date: N/A; Last Ex-Dividend Date: N/A Our abundant cash reserve gives us the confidence to expand our global client service coverage and develop more first-rate products going forward.”, Finance Magnates is a global B2B provider of multi-asset trading news, research and events Though the Bitcoin price started its rally last year, Canaan could not turn a profit after its interests and expenses. Find out everything you need to know about the company today in our Canaan Creative overview. Established in 2013 by N.G. You can work with Canaan after sales engineers online to find out the faulty parts, then we can send you the replacement parts directly via the express companies. Canaan Inc. is expected* to report earnings on 05/03/2021 before market open. A leading supplier of high-performance computing technologies, Canaan Inc. (NASDAQ: CAN) officially revealed its unaudited financial results for the three months ended 30 September 2020. During it’s IPO in November 2019, the company raised $90M USD selling 10,000,000 stocks for $9 each. This is validation for Canaan Creative The ETF’s largest holding as of 10 March was Canaan Creative (NASDAQ:CAN) , accounting for over 11% of the portfolio. Earnings vs Industry: CAN is unprofitable, making it difficult to compare its past year earnings growth to the Tech industry (-20.1%). According to Canaan’s first quarter earnings, the company earned $9.6 million in revenue for the first three months of 2020. The company reported ($0.07) earnings per share (EPS) for the quarter. We will send instructions to reset Social Enrichment is why we do. For more information, please visit: investor.canaan-creative.com. In 2016, Canaan successfully initiated the production of its first 16nm chip and passed China's national high-tech enterprise certification. Copyright West LLC. It sold a total of 6.6 million THash/s of computing power, which was a 37.1 percent decline from its sales in the previous year. your password. Get the latest Canaan Inc. Currently, Canaan focuses on the R&D of advanced technology including AI chips, AI algorithms, AI architectures, system on a chip (SoC) integration and chip integration. In addressing the limitations of today’s computing hardware, Canaan strives to advance the world we live in by powering transformative technologies. Canaan Creative – the largest mining facility in China after Bitmain ... meaning the company’s spending was near the same level as its earnings despite an alleged 44 percent growth rate. 23 Canaan Inc - ADR (CAN) Down 3.77% in Premarket Trading View Canaan Inc. Canaan Inc. also provides a suite of AI service solutions and is able to tailor these solutions to the needs of its partners. Moreover, its administrative expenses were reduced by 62.1 percent to $20.2 million last year. Established in 2013, Canaan Inc. provides high-performance computing solutions to efficiently solve complex problems. It sold a total of 6.6 million THash/s of computing power, which was a 37.1 percent decline from its sales in the previous year. Initially, Canaan mainly developed FPGA products based on the SHA-256 algorithm.After that, it released Avalon Blockchain ASIC. Canaan Creative, the Chinese bitcoin miner maker, registered a net loss of $148.6 million for last year on $204.3 million in revenue, CoinDesk reported.. Thank you for registering to Finance Magnates. Minimum 15 minutes delayed. Canaan is a leading provider of supercomputing solutions, distinguished for superior cost-efficiencies and performance. 29, 2021 at 12:31 p.m. Canaan Creative is a worldwide leader in producing Blockchain servers. Canaan Creative Inc. (NASDAQ: CAN) stock declined by 8.32% in the last trading close whereas the CAN stock price rises by 11.16% in the pre-market trading session. Q1 2020 (Mar 2020) GAAP EPS of -$0.04 Revenue of $9.30M (33.54% YoY) Q4 2019 (Dec 2019) GAAP EPS of -$0.77 Revenue of $163.25M (322.05% YoY) Q3 2019 (Sep 2019) GAAP EPS of $0.09 Revenue … Address : 1-2 floor QianFang Science Building C, ZPark 27# , Haidian District, Beijing, China. On this news, Canaan’s shares plummeted approximately 30%, down from $18.67 to $13.14 in just one trading day. Please check your inbox for our authentication email. “By leveraging our established market presence, we further optimized our international customer base, secured a large number of pre-orders from clients in both domestic and international markets, and streamlined our supply chain management to optimize our cash flow. Thank you. Canaan Inc ADR (CAN) reported a Quarter December 2020 loss of $0.07 per share on revenue of $5.9 million.. Revenue fell 91.2% compared to the same quarter a year ago. ICR Inc. Jack Wang Tel: +1 (347) 396-3281 Email: canaan.ir@icrinc.com However, Canaan is projecting an optimistic outlook for 2021. Canaan Creative, the manufacturers of the Avalon Bitcoin miner series have published their first earnings report since the company’s public stocks sale in the USA, on Thursday, April 9th, as initially reported by Coindesk. Return on Equity High ROE : CAN has a negative Return on Equity (-49.73%), as it is currently unprofitable. Intercontinental Exchange Sold Coinbase Stakes for $1.2 Billion, BTC Whale Moves 3,671 Bitcoin from Coinbase, BTC Miner Maker Canaan Ends 2020 with $68 Million in Revenue. The Hangzhou-based firm highlighted that it is expecting a revenue of at least 400 million yuan (around $61 million) for the first quarter of the ongoing year. Despite that, the company significantly, However, Canaan is projecting an optimistic outlook for 2021. The firm sold 0.9 million terahash per second (TH/s) of ASIC hashpower, up from 0.7 million TH/s during the same period in 2019. ICR Inc. Jack Wang Tel: +1 (347) 396-3281 Email: canaan.ir@icrinc.com Chinese bitcoin miner manufacturer Canaan Creative disclosed a net loss of $148.6 million for 2019 on revenue of $204.3 million, reflecting declining profitability over the past three years. Why Canaan Stock Jumped 17% This Morning Mar. Canaan Announces Entry into Agreement for Registered Direct Placement of Approximately US$170.0 Million of its ADSs and Warrants, Canaan Inc. Fourth Quarter and Full Year 2020 Earnings Conference Call, Canaan Inc. Reports Unaudited Fourth Quarter and Full Year 2020 Financial Results. Tailoring to the needs of its partners, Canaan now provides a package of AI services in the AI landscape. Canaan has established an intellectual value chain with the AI chip as its base. Please open the email we sent you and click on the link to verify your account. The business earned $5.86 million during the quarter. This company creates and sells the computer parts needed for cryptocurrency and bitcoin mining. Chinese Bitcoin mining hardware manufacturer, Canaan Creative (Nasdaq: CAN), announced on Monday that it closed 2020 with total revenue of $68.6 million, out of which $5.9 million were generated in the fourth quarter of the year. We do not store your information and we do not disclose our sources. In 2018, Canaan achieved major technological breakthroughs, launching the K210, the world's first RISC- V-based edge artificial intelligence (AI) chip, which is now widely used in access control, such as smart door locks. Canaan Reports Unaudited Q4 And FY2020 Financial Results Canaan Reports Q4 Net Loss Per ADS RMB0.46 (US$0.07) Canaan Says Revenue Visibility Improved In … Sponsored Adr CAN detailed stock quotes, stock data, Real-Time ECN, charts, stats and more. Canaan Inc. Reports Unaudited Fourth Quarter and Full Year 2020 Financial Results. Exchange rate of 1 BTC = 48000.00 USD was used. Terms, Cookies and Privacy Notice. Chinese Bitcoin mining hardware manufacturer, Canaan Creative (Nasdaq: CAN), announced on Monday that it closed 2020 with total revenue of $68.6 million, out of which $5.9 million were generated in the fourth quarter of the year. For more information, read our Past earnings … Leave your name/email (not required) if you'd like to be contacted about this story (will not be disclosed): Be it a typo or a factual error - we do our best but we are also human! According to Canaan, its gross profit for the year came in at $5.8 million, recovering from gross losses in the last year. Binance Referral ID Code: U5NN83GH (30% Fee Discount Bonus)Go to article >>. Total operating expenses in the fourth quarter of 2020 were RMB80.1 million (US$12.3 million), representing a decrease of 37.3% from RMB127.7 million in … The company’s products are sold around the world. Get the latest Canaan earnings report, revenues as well as upcoming CAN earnings dates, historical financial reports, news, analysis & more. Within the period of this warranty, Canaan will repair or replace, free of charge, any part proven defective in material, performance or workmanship, but mining earnings will not be compensated. What Is Canaan? Canaan Creative Avalon 921 Your approx. The reported EPS for the same quarter last year was $-0.04. Canaan Announces Significant Customer Order of 11,760 Bitcoin Mining Machines. View Canaan's earnings history. with special focus on electronic trading, banking, and investing.Copyright © 2021 "Finance Magnates Ltd." All rights reserved. Do let us know and we'd be happy to check ourselves and fix if necessary. 21, 2021; Last Earnings Release: Apr. Bitcoin mining rig manufacturer Canaan Creative reported a net loss of $5.6 million for the first quarter of 2020, down from $9.5 million a year earlier. The report will be for the fiscal Quarter ending Mar 2021. Canaan Announces Partnership with Cathay to Launch AI … Canaan Inc Earnings Call Date 12-04-2021 Time (ET) 08:00 AM Fiscal Quarter Q4 Fiscal Year 2020 Live Webcast URL https://investor.canaan-creative.com/news-events/event-calendar Replay Webcast URL https://investor.canaan-creative… Address : 1-2 floor QianFang Science Building C, ZPark 27# , Haidian District, Beijing, China. Launched in the penultimate quarter of 2020, the A1246, according to Canaan is an advanced mining rig that's capable of producing a hashrate of 90TH/s and a power efficiency of about 38J/TH. This amounts to a growth of 44.6% compared to the same period the previous year. Enter your email address below. Get Canaan Inc (CAN:NASDAQ) real-time stock quotes, news, price and financial information from CNBC. Canaan Creative, known simply as Canaan, is a China-based computer hardware manufacturer. Canaan is one of the top Bitcoin mining ASIC manufacturers and sells Avalon-branded miners. Established in 2013, Canaan Inc. provides high-performance computing solutions, solving complex problems efficiently. Canaan Inc. (NASDAQ:CAN) released its quarterly earnings results on Monday, April, 12th. Email: IR@canaan-creative.com. ET on Motley Fool Blockchain Stocks: Why EBON, RIOT, CAN and MARA Stocks Are on the Move Today Despite that, the company significantly improved its earnings. Canaan Inc. Mr. Shaoke Li Email: IR@canaan-creative.com. The net losses for the year were also reduced to $33 million, compared to a grave loss of $148 million in 2019. 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